The Central Bureau of Investigation (CBI) has taken over the probe into the alleged misappropriation of more than ₹550 crore of Haryana government funds from IDFC First Bank and AU Small Finance Bank.
The federal agency registered a regular case (RC), replicating the first information report lodged by the Haryana Anti Corruption Bureau (ACB) on February 23.
A team of CBI officers met the ACB officials to get acquainted with the aspects of the banking scam and pick up documents of evidentiary value.
The CBI RC states: "The case involved serious allegations of misappropriation of government funds and a large scale, organised, and multi-layered fraud pertaining to fraudulent banking operations and fictitious transactions allegedly undertaken in a systematic manner to siphon off government funds into the accounts of shell entities, including Swastik Desh Project, SRR Planning Gurus Pvt. Ltd., Cap Co Fintech Services, R.S. Traders and other associated firms/individuals, resulting in a substantial loss to the public exchequer, estimated to exceed ₹550 crore."
Haryana officials added that a second case registered by ACB in connection with the Panchkula Municipal Corporation banking fraud may also be handed over to CBI.
The ₹150–160 crore fraud involves the liquidation of the corporation’s fixed deposits in Kotak Mahindra Bank using forged documents and fictitious accounts.
Kotak Mahindra Bank has begun reconciling the municipal corporation’s fixed deposits and linked accounts, maintaining that all processes and transactions adhered to due norms.
IDFC First Bank said it has paid 100% of the principal and interest amounting to ₹583 crore to the relevant Haryana government departments.
AU Small Finance Bank said there was no indication of any financial impact or fraudulent activity affecting the bank, adding that certain employees had been placed off duty to ensure a fair and transparent review.
