CBI Files Charges Against IFS Officer and Wife in IDFC Bank Fraud Case

Chandigarh, September 11 (Daily Kiran) : The Central Bureau of Investigation (CBI) has filed charges against an Indian Forest Service (IFS) officer, who previously served as the CEO of Chandigarh’s Green Energy Society (CREST), and his wife, who is a director at a consultancy firm. This action comes in connection with a significant fraud involving ₹75 crore of government funds from IDFC First Bank accounts.

According to CBI officials, the charges were filed against Navneet Srivastava, the former head of CREST, who is currently in judicial custody, as well as against Vipam Consultancy and its director. The agency has accused the defendants of criminal conspiracy, evidence tampering, fraud, breach of trust, forgery, and using fake documents as genuine. They are also charged under the Prevention of Corruption Act of 2018 for bribery and other criminal misconduct.

The investigation revealed that while serving as CEO, Srivastava allegedly conspired with others to misappropriate funds and engaged in illegal activities as a public servant. His wife, as a director of Vipam Consultancy, has also been implicated for aiding in the crime.

The CBI reported that the consultancy received ₹95 lakh from the fraudulently obtained funds, which were used to purchase real estate. Overall, the fraudulent activities related to the CREST case amount to ₹75.4 crore.

Previously, Srivastava had already been arrested by the CBI and remains in judicial custody. The agency took over the investigation from Chandigarh’s union territory authorities.

Prior to this recent filing, the CBI had already charged 13 other individuals in connection with the case. The CBI’s inquiry is linked to a major banking fraud at IDFC First Bank’s Sector 32 branch in Chandigarh, which involved the unauthorized withdrawal of approximately ₹504 crore from eight departments and organizations of the Haryana government through fake fixed deposits and fraudulent debit transactions.

Following a request from the state government, the CBI took over the Haryana case from the State Vigilance and Anti-Corruption Bureau.