The Central Bureau of Investigation (CBI) has obtained three-day custodial remand of six individuals arrested in connection with a ₹590 crore fraud involving accounts linked to IDFC First Bank and AU Small Finance Bank. The order was passed by a Special CBI Court in Haryana as the agency intensifies its probe into what it describes as a “larger conspiracy” involving multiple actors and financial irregularities.
Court Grants Custody for Further Interrogation
The six accused — identified as Abhay Kumar, Ribhav Rishi, Swati, Abhishek Singla, Naresh Kumar, and Manish Jindal — were remanded to CBI custody for three days following arguments presented by the investigating agency.
The CBI argued that custodial interrogation was necessary to confront the accused with documentary evidence and uncover additional individuals involved in the fraud. The agency initially sought five days of custody, stating that the accused “possess crucial information” required to expand the investigation and identify other conspirators.
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Allegations of Forgery, Conspiracy, and Fund Diversion
According to the FIR registered on April 8, the case involves offences under the Prevention of Corruption Act and multiple provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, including cheating, forgery, criminal conspiracy, and criminal breach of trust.
Investigators allege that the accused were involved in orchestrating fraudulent activities such as opening bank accounts, transferring funds from government-linked accounts, manipulating banking records, and using forged documents. The funds were reportedly routed through multiple accounts in layered transactions before being withdrawn and distributed among various beneficiaries.
Larger Conspiracy Under Investigation
The CBI has indicated that the case extends beyond the currently identified accused, pointing to a broader network of individuals yet to be identified. The agency informed the court that only a few participants in the alleged conspiracy have been traced so far.
“The accused are required to be confronted with the records and facts to further unearth the names of other accused persons,” the CBI submitted, emphasizing the need for custodial interrogation to establish the full scope of the fraud.
Background and Prior Custody
Before being handed over to the CBI, the accused were in the custody of the State Vigilance and Anti-Corruption Bureau (SV&ACB), Panchkula, for varying durations ranging from six to nine days.
The case originated from an earlier FIR lodged by the SV&ACB on February 23, following allegations of large-scale misappropriation of government funds. The CBI later took over the investigation, registering its own case based on the initial findings.
The agency has also informed the court that the offences carry a maximum punishment of life imprisonment, allowing for extended detention under Section 187 of the Bharatiya Nagarik Suraksha Sanhita (BNSS).
