The wife of an IFS officer has come under investigation in the multi-crore Chandigarh Smart City and CREST projects scam, with investigators examining transfers made to her bank account and the purchase of a house in Goa. The case, as presented in the report, is linked to alleged negligence by IDFC First Bank’s Sector 32 branch, and the inquiry is being handled by a Special Investigation Team.
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Money Trail Under Scrutiny
According to the investigation, approximately ₹75 lakh to ₹1 crore was transferred to the account of the IFS officer’s wife. Investigators say the money was later used to buy a property in Goa, and the SIT is examining the source of the funds and the links behind the transactions.
The report says a senior IFS officer’s role has now come under suspicion as part of the wider inquiry into alleged irregularities tied to the CREST and Smart City projects. It adds that the investigation into the scam, described as being worth crores of rupees, continues alongside scrutiny of the bank’s conduct.
Shell Firms and Real Estate Links
The allegations state that government funds were diverted to shell companies and later invested in real estate to generate substantial profits. Investigators also said that several of these shell companies were created in the names of drivers, wives and close associates.
According to the report, Capco Infotech was registered in the name of Bhupinder Singh and Sapna, identified as the wife of Hemraj, who is described as the driver of an IDFC Bank branch manager. RS Traders was also shown in the name of driver Hemraj. Another company, Swastik Desh Projects, was formed in the name of Swati Singla and her brother. Swati Singla is said to be the wife of Abhay Kumar, identified as a relationship manager at the bank.
Ten Arrests and Wider Probe
The SIT has so far arrested 10 accused in a case involving approximately ₹116 crore in municipal funds and around ₹83 crore in CREST funds, according to the report. It also says that NP Sharma, the former chief general manager of the Smart City project, has been questioned.
Those named in the report as having been arrested include former Chief Financial Officer Nalini Malik, former CREST project director Sukhwinder Singh Abrol, Head of Accounts Sahil Kukkad, former bank manager Ribhav Rishi, relationship manager Abhay Kumar, bank official Seema Dhiman, real estate businessman Vikram Wadhwa, and alleged shell company operators Swati Singla, Abhishek Singla and Ankur Sharma.
The report states that the case came to light after the Smart City project was completed and its grant and fixed deposits were to be transferred to the Municipal Corporation. It says fake receipts were then found to have been prepared for fixed deposits placed in IDFC First Bank. Investigators allege the deposits were withdrawn, moved to shell companies and later invested in real estate. A police complaint was subsequently filed, an SIT was formed, and the investigation was launched. Officials cited in the report said more prominent names could yet emerge as the inquiry continues.
