Chandigarh — In a significant development in an alleged ₹83 crore financial fraud case, Chandigarh Police have arrested Sukhwinder Abrol, project director of the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST).
The arrest follows an investigation into allegations that funds linked to CREST were misappropriated through a network of financial transactions. Abrol was produced before a duty magistrate and remanded to five days of police custody.
The case stems from a First Information Report (FIR) registered on March 12, 2026, under provisions of the Bharatiya Nyaya Sanhita (BNS), following a complaint filed by the chief executive officer of CREST.
Allegations of Diversion Through Shell Companies
Investigators said the inquiry revealed that funds from CREST-linked bank accounts were allegedly diverted to shell companies. These funds were then transferred onward to accounts associated with Abrol, his relatives, and close associates.
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Police officials described the transactions as part of a structured diversion mechanism, though the full extent of the financial trail is still under examination.
The complaint alleges cheating amounting to approximately ₹83.04 crore, pointing to suspected involvement of individuals with access to institutional banking processes.
Role of Bank Officials Under Scrutiny
According to police, several bank officials have also been named in the case. The accused include Abhay Kumar, Seema Dhiman, and Ribhav Rishi, identified as officials of IDFC First Bank.
Authorities suspect their involvement in facilitating or enabling the alleged financial irregularities, though investigators have not publicly detailed the specific roles attributed to each individual.
The inclusion of banking personnel has broadened the scope of the investigation, raising questions about oversight and internal controls in handling institutional accounts.
Expanding Investigation and Financial Trail
Police officials said further investigation is underway to trace the complete money trail and identify additional individuals connected to the case. Authorities are examining transaction records, account linkages, and associated documentation to establish how funds moved across entities.
The inquiry is also focused on determining whether other CREST employees or external associates played a role in the alleged diversion.
As investigators continue to map the flow of funds, officials indicated that the case could expand further, depending on findings from ongoing financial analysis and custodial interrogation.
