The Central Bureau of Investigation (CBI) has conducted searches at six locations in Chandigarh, Panchkula and the Delhi-NCR region as part of an ongoing probe into an alleged large-scale misappropriation of funds involving IDFC First Bank and AU Finance Bank.
According to the agency, the searches are linked to allegations that around ₹661 crore parked in eight departments of the Haryana government, along with funds belonging to the Municipal Corporation Chandigarh and CREST Chandigarh, were siphoned off. The search operations were carried out on June 6 and targeted premises connected to individuals and entities under investigation.
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Searches Conducted Across Multiple Locations
The CBI said the searches were carried out at six premises, including the residences of senior public servants of the Haryana cadre, as well as locations linked to Vipam Consultancy Pvt. Ltd. and its director.
The agency stated that the searches formed part of its ongoing investigation into the alleged diversion of government funds held with IDFC First Bank and AU Finance Bank. The operation covered Chandigarh, Panchkula and areas in and around Delhi.
Alleged Collusion Under Investigation
According to the CBI, evidence collected during the investigation suggests that certain public servants may have colluded with bank officials in the opening of accounts, transfer of funds and subsequent diversion of money.
The agency alleged that the individuals concerned received undue advantages in return for facilitating the transactions and failing to act against them. It further claimed that Vipam Consultancy Pvt. Ltd., based in Noida, received proceeds of the alleged crime, which were later transferred to the personal account of its director.
During the searches, investigators seized documents, digital devices, property records and other material considered relevant to the case.
Probe Linked to Earlier Cases
The CBI took over the investigation after assuming control of one case from the State Vigilance and Anti-Corruption Bureau, Haryana, and two cases originally registered at the Economic Offences Police Station in Chandigarh.
The cases relate to allegations of criminal conspiracy, misappropriation of government funds and related offences involving bank officials and public servants. The agency said it had earlier filed its first charge sheet outlining the alleged role of public servants from Haryana Power Generation Corporation Ltd. and Haryana School Shiksha Pariyojana Parishad.
The CBI stated that the charge sheet detailed the alleged method used to siphon government funds parked with IDFC First Bank and AU Finance Bank. It added that further charge sheets in the matter are expected to be filed.
