The Central Bureau of Investigation (CBI) has made fresh allegations in the ₹504 crore IDFC First Bank fraud case, claiming that a Haryana government official received cash, luxury foreign trips, hotel stays and other financial benefits from a key accused in exchange for allegedly facilitating fraudulent banking transactions. The agency has detailed these allegations in a chargesheet filed before a Panchkula court as part of its ongoing investigation.
According to the CBI, Naresh Kumar, a Superintendent in Haryana’s Panchayat and Development Department, allegedly acted as an intermediary between senior department officials and Ribhav Rishi, the then Branch Manager of IDFC First Bank’s Sector-32 branch in Chandigarh. Kumar has already been arrested in connection with the case.
Investigators allege that Ribhav Rishi and other accused opened bank accounts of Haryana government departments without following prescribed procedures. The CBI claims that forged cheque books, fake account details and signed banking instruments were used to facilitate unauthorised transactions involving accounts linked to the Mukhya Mantri Gramin Awas Yojana maintained with IDFC First Bank and AU Small Finance Bank.
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According to the chargesheet, Naresh Kumar allegedly played an active role in facilitating the fraudulent transactions, including providing telephonic confirmations required to process certain banking transactions. The CBI has alleged that he received substantial financial benefits in return for his involvement.
The agency stated that call detail record (CDR) analysis showed a significant increase in communication between Naresh Kumar and Ribhav Rishi from March 2025 onwards, with the highest frequency of calls recorded between October and December 2025, the period during which the alleged fraudulent transactions were at their peak.
The CBI further alleged that approximately ₹1 crore, described as proceeds of crime, was transferred into Naresh Kumar’s Union Bank and HDFC Bank accounts through M/s Swastik Desh Projects. According to the chargesheet, the transfers included ₹40 lakh on November 13, 2025, another ₹40 lakh on November 15, and two separate transfers of ₹10 lakh each on November 27, 2025.
Investigators have also alleged that ₹25 lakh was directly paid from the AU Small Finance Bank account of M/s Swastik Desh Projects to an automobile dealership for the purchase of a Toyota Fortuner registered in Naresh Kumar’s name. In addition, the CBI claims that ₹10 lakh was transferred from the same account to the HDFC Bank account of Kumar’s daughter on August 29, 2025.
Apart from the alleged monetary transfers, the agency has accused Ribhav Rishi of financing several domestic and international trips and luxury hotel stays for Naresh Kumar. These allegedly included hotel accommodation in Jaipur, family travel to Bangkok and Macao, a Mumbai trip, travel from Hyderabad to Chandigarh, a stay at a luxury hotel in Pune, and accommodation at Dubai’s Burj Al Arab hotel. According to the CBI, these expenses were paid through travel agencies and are supported by travel records, hotel documents and accounting records seized during the investigation.
The CBI said the allegations are supported by documentary evidence, including travel agency records, hotel invoices, banking documents, call detail records and financial transaction records. The agency is continuing its investigation to determine the complete extent of the alleged conspiracy, identify the role of all public servants and private individuals involved, and trace the complete flow of funds.
According to the Future Crime Research Foundation (FCRF), large-scale banking frauds involving public officials, forged banking instruments and diversion of public funds highlight the importance of stronger internal controls, independent verification of government banking transactions, continuous transaction monitoring, forensic financial audits and enhanced oversight of public fund management.
The investigation remains ongoing. The allegations contained in the CBI chargesheet have not yet been tested in court, and the guilt or innocence of the accused will be determined through the judicial process based on the evidence presented.
