A ₹50 crore alleged financial scam in Haryana’s power sector has raised serious questions over the functioning of government systems. The case, involving fake bank accounts, forged Fixed Deposit Receipts (FDRs), and suspicious transactions used to divert public funds, is now deepening. Considering the gravity of the matter, the state government has handed over the investigation to the Central Bureau of Investigation (CBI) to ensure a fair and comprehensive probe into the entire network.
Fake FDR and Unauthorised Fly‑Ash Account
The case is linked to Haryana Power Generation Corporation Limited (HPGCL), where layers of financial irregularities are gradually coming to light. Preliminary findings revealed that a bank account titled “HPGCL Dry Fly Ash Fund” was opened in February 2024 at a private bank in Chandigarh, bypassing mandatory government procedures. No proposals were invited from empanelled banks, and notably, the bank in question was not even on the approved government panel at the time.
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The biggest revelation surfaced on November 11, 2024, when ₹50 crore was transferred from a departmental account into this suspicious account. Subsequently, the account was shown to have been converted into a fixed deposit. However, the FDR presented during the inquiry was found to be completely fake, with no official records supporting its existence—raising serious doubts over the legitimacy of the transaction.
Unauthorised Transactions and Pension‑Fund Suspicion
Further scrutiny of the account uncovered a total of 32 transactions, out of which at least eight were identified as unauthorised. These irregular transactions strengthened suspicions that government funds were systematically siphoned off into other accounts as part of a planned operation.
Another critical finding in the case is the opening of a separate account under the name “HPGCL Pension Fund Trust,” which has also come under the scanner. Officials suspect that similar methods may have been used to misuse funds through this account as well.
In this case, the Director Finance of HPGCL, identified as the main accused, was arrested on March 18, 2026. Based on evidence and witness statements gathered during the investigation, it has also been alleged that the accused received illegal gratification amounting to approximately ₹50 lakh as part of the conspiracy.
Broader Network, Bank Collusion, and CBI Probe
Investigating agencies believe that the case is not limited to a single individual but may involve a broader organised network. The arrest of a bank official further indicates possible collusion at both banking and departmental levels. According to officials, the network may have exploited systemic loopholes to move funds beyond traceable channels.
The official order clearly states that the accused misused his position, compromised institutional integrity, and acted against public interest. It also expressed concern that continuing a parallel departmental inquiry could have led to tampering with evidence or influencing witnesses.
For these reasons, the state government decided to transfer the case to the CBI to ensure that the investigation proceeds without any external pressure. The central agency will now examine fund flows, banking channels, digital records, and the role of other potential accused in detail.
This case not only exposes serious lapses in financial oversight within Haryana’s power sector but also underscores the urgent need to strengthen transparency and accountability mechanisms in government institutions. With the CBI now leading the investigation, further major revelations are expected in the coming days.
