New Delhi, June 30: The Central Bureau of Investigation (CBI) has arrested Shamim Dar, the former area head of IDFC First Bank, and Charanjit Singh Randhawa, the former branch manager of AU Small Finance Bank in Mohali. This action stems from allegations of misusing surplus funds from Haryana government departments by improperly investing them in fixed deposits and executing fraudulent transactions through bank accounts opened for this purpose.
The CBI’s investigation revealed that both accused played a significant role in opening bank accounts and conducting fraudulent transactions, which led to the misuse of government funds. Evidence was collected during the investigation, resulting in their arrest and subsequent presentation before a special judge in Panchkula.
The CBI took over the investigation at the request of the state government’s vigilance and anti-corruption bureau. The fraud occurred at the IDFC First Bank branch located in Sector 32, Chandigarh, where ₹504 crores from eight departments of the Haryana government were transferred to fake companies through counterfeit fixed deposits and debit notes.
So far, the CBI has filed charges against 17 individuals in this case, including six officials from IDFC First Bank and AU Small Finance Bank, three government employees from Haryana, two companies, and six private individuals.
Additionally, the CBI has taken on two more cases from the Chandigarh Union Territory, one related to the Chandigarh Smart City Limited (CSCL) and the other to Crest Chandigarh. The agency has filed charges in both cases as well.
In the CSCL case, charges have been filed against five bankers, one CSCL official, and one private individual. In the Crest case, charges have been brought against five bankers, two Crest officials, four private individuals, and two companies.
The CBI is committed to ensuring that all responsible parties are punished and that the full extent of the misused government funds is uncovered.
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