New Delhi, The CBI on Friday filed two separate chargesheets in connection with bilking of funds belonging to Haryana government and Chandigarh Smart City Limited from IDFC First bank, officials said.
Funds cumulatively worth ₹657 crore were siphoned off, they said.
The case pertains to a sophisticated scheme in which government funds were allegedly funnelled through fictitious transactions into accounts linked to shell entities.
According to a CBI spokesperson, the total loss caused by illegal transactions in the Haryana government’s case is ₹504 crore and ₹153 crore in the CSCL case.
In the Haryana government’s case, the CBI filed a chargesheet before the Special Court in Panchkula.
The case, pertaining to eight departments of Haryana government, was transferred to CBI from the State Vigilance and Anti-Corruption Bureau.
Two private individuals, both recipients of the ill-gotten money, were accused in the case.
“This is the second chargesheet in the Haryana government case. The CBI has already chargesheeted 15 accused persons and companies earlier: three government servants, six bankers, two companies and four private persons,” the spokesperson said.
In the CSCL case, the chargesheet was filed before the Special Court in Chandigarh against seven people, including five bank officials, one CSCL official and one private person. This is the first chargesheet in the case.
The CBI had taken over two cases from the Economic Offences Police Station in Chandigarh, pertaining to CSCL and CREST Chandigarh.
“Offences cited in the chargesheets relate to criminal conspiracy, criminal breach of trust, forgery and cheating, along with offences under the Prevention of Corruption Act,” the CBI spokesperson said.
The agency will be filing more chargesheets in the case, officials said.
The probe shows “huge” funds have been transferred to various shell companies and minor jewellery entities and finally siphoned off under the guise of gold purchases and investments in real estate sector, sources said.
They said a “significant” amount of cash withdrawals has also been noticed in this money trail.
The role of a Chandigarh-based hotelier, involved in construction of real estate projects in the Tricity , and AU Small Finance Bank is also under the scanner.
IDFC First Bank had said it has paid out 100 per cent of the principal and interest to the relevant departments of the Haryana government, which works out to ₹583 crore.
“The bank remains committed to working together with the relevant Haryana government departments and the law enforcement agencies to pursue actions against the perpetrators of the fraud and looks forward to recovering our dues,” IDFC First Bank said in a regulatory filing.
This article was generated from an automated news agency feed without modifications to text.
