Chandigarh:
The Central Bureau of Investigation (CBI) has taken over the investigation into the alleged embezzlement of over $Rs 550 crore of Haryana government funds from IDFC First Bank and African Microfinance Bank.
The federal agency has registered a regular case (RC), equivalent to an FIR, to replicate the first information report filed by the Haryana Anti-Corruption Bureau (ACB) on February 23.
A senior Haryana government official aware of the developments said on condition of anonymity: “A team of CBI officers met CBI officials on Thursday to identify aspects of the bank fraud and obtain documents of evidentiary value.”
The CBI RC, seen by HT, states: “The case involves serious allegations of misappropriation of government funds and large-scale, systematic and multi-layered fraud relating to fraudulent banking and sham transactions that were allegedly done in a systematic manner to siphon off government funds into the accounts of shell entities, including Swastik Desh Project, SRR Planning Gurus Pvt. Ltd., Cap Co Fintech Services, RS Traders and other associated entities. Companies/individuals, resulting in A significant loss to the public treasury, which is expected to exceed this $550 Crores.”
The second case registered by the ACB in connection with the bank fraud committed by the Panchkula Municipal Corporation may also be handed over to the CBI, Haryana officials added. the $The fraud amounting to Rs 150-160 crore involved liquidation of the company’s fixed deposits at Kotak Mahindra Bank using forged documents and fake accounts.
Kotak Mahindra Bank on March 25 said it has begun reconciliation of the municipal corporation’s fixed deposits and linked accounts, while assuring that all operations and transactions adhere to due standards. She added that a large part of it has already been settled, while the remaining process is still ongoing.
In the first case, IDFC First Bank said in a statement on February 24 that it had paid 100% of the principal and interest — amounting to $Rs.583 Crore – – for relevant government departments in Haryana.
The African Union Microfinance Bank said on February 22 that there was no indication of any financial influence or fraudulent activity affecting the bank, adding that some staff had been suspended to ensure a fair and transparent review.
The CBI’s RC comes amid administrative turmoil in the state, with the government transferring four IAS officers on Wednesday evening. The officers, who were given key posts on March 19, were moved to less important roles within three weeks as part of a wider reshuffle involving 15 IAS officers. In a related move, two IAS officers who were promoted from the state civil services were suspended from duty. It was not immediately clear whether any of the transfers and suspensions were related to any of the cases detailed above.
