In a major development in an alleged government fund misappropriation and banking irregularities case in Haryana, investigators have arrested senior IAS officer Pankaj Aggarwal. The action follows an ongoing probe into suspected financial irregularities involving accounts linked to the Haryana School Shiksha Pariyojna Parishad (HSSPP) and the Haryana State Agriculture Marketing Board (HSAMB).
According to investigators, the accounts were allegedly used in transactions that resulted in the diversion of government funds, causing an estimated loss of ₹60.54 crore to the state exchequer. Authorities claim that evidence collected during the investigation points to serious procedural and financial violations connected to the operation of these accounts.
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The disputed accounts were maintained at the Sector-32 branch of IDFC First Bank in Chandigarh. Investigators allege that the accounts were opened in contravention of financial guidelines issued by the Haryana government and subsequently received government funds exceeding the permitted limits. Preliminary findings suggest a connection between administrative decisions and the movement of funds through these accounts.
The case was initially investigated by Haryana’s vigilance and anti-corruption authorities before being transferred to a central probe following a request from the state government. Since then, investigators have examined banking records, official documents, digital evidence, and fund-flow trails to determine how the transactions were executed and who benefited from them.
Officials say the alleged ₹60.54-crore loss linked to the education and agriculture departments may represent only one component of a much larger financial fraud associated with the Chandigarh bank branch. Investigators suspect that funds from multiple government departments were routed through shell entities and other channels, prompting a broader examination of financial transactions connected to the case.
The investigation has already resulted in chargesheets against several individuals and entities, including banking officials, government employees, private companies, and other individuals. Authorities believe the network behind the alleged fraud is extensive and that additional arrests or questioning may follow as new evidence emerges.
In a related development, senior IAS officer R.K. Singh was previously arrested in connection with an alleged diversion of funds linked to the Municipal Corporation of Panchkula. Following the completion of his custodial interrogation, he was remanded to judicial custody. The development indicates that scrutiny of alleged financial irregularities involving public institutions is continuing to expand.
Investigators have also taken over two other Chandigarh-linked cases involving alleged financial misconduct connected to Chandigarh Smart City Limited (CSCL) and the Centre for Research in Rural and Industrial Development (CREST). Chargesheets have already been filed in both matters, with several bank officials, institutional employees, private individuals, and companies named in the investigations.
Financial crime experts note that weaknesses in oversight and transparency mechanisms can create opportunities for the misuse of public funds. Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said that large-scale financial fraud investigations require scrutiny not only of banking transactions but also of decision-making processes, digital records, and beneficiary networks. According to him, scientific analysis of the fund trail is essential to identify how money moved through various channels and ultimately reached end beneficiaries.
Investigators say their priority remains tracing the complete movement of the allegedly misappropriated public funds and identifying all individuals responsible for the suspected wrongdoing. With multiple linked cases under examination, further developments and disclosures are expected in the coming weeks.
