1 day ago
2
The Central Bureau of Investigation (CBI) has arrested an IAS authoritative implicit the alleged diversion of ₹79.46 crore from the Panchkula Municipal Corporation.
The bureau identified the accused arsenic Sri Ram Kumar Singh, who was serving arsenic the Commissioner astatine the time. The funds were diverted from the Corporation’s relationship astatine the Chandigarh subdivision of the IDFC First Bank.
“The probe revealed that the relationship was opened successful usurpation of the extant guidelines of the Haryana Government’s Finance Department. Particulars recorded connected the relationship opening signifier were entered successful a mode designed to conceal the fraudulent transactions that they were planning,” the CBI said connected Thursday (June 18, 2026).
As portion of the alleged conspiracy, which progressive officials of IDFC First Bank, Mr. Singh allegedly handed the bankers aggregate signed cheques done middlemen nether the guise of opening fixed deposits. “The funds were debited utilizing these cheques and nary fixed deposits were ever created. The debited amounts were diverted to ammunition entities controlled and operated by the accused slope officials,” the bureau added.
Accountant arrested
The bureau had earlier arrested a elder accountant of the Municipal Corporation successful the aforesaid case, aft which Mr. Singh was booked and his homes successful Chandigarh and Karnal were searched.
The CBI took implicit the probe from the Haryana Vigilance and Anti-Corruption Bureau astatine the State Government’s request. The fraud astatine the Panchkula Municipal Corporation progressive astir ₹79.46 crore, forming portion of a larger scam astatine the aforesaid subdivision of the slope successful which ₹504 crore belonging to 8 Haryana Government departments was siphoned off.
So far, 17 accused person been charge-sheeted by the CBI successful the Haryana case. Among them are six officials of IDFC First Bank/AU Small Finance Bank, 3 nationalist servants, 2 companies and six backstage individuals. The bureau has besides taken implicit 2 different cases from the Chandigarh Union Territory.
