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The Haryana State Vigilance and Anti-Corruption Bureau (ACB) connected Saturday (March 14, 2026) arrested a jeweller successful transportation with the IDFC First Bank fraud case, with investigators uncovering that much than ₹250 crore had been routed to his steadfast from companies linked to the accused.
Rajan Katodia, proprietor of Sawan Jewellers, was arrested arsenic portion of the ongoing probe, and with this, the full fig of arrests successful the lawsuit has reached 12, an authoritative connection issued successful Panchkula said.
The lawsuit pertains to backstage lender IDFC First Bank, which had disclosed a ₹590 crore fraud involving definite employees and others astatine its Chandigarh subdivision successful a acceptable of accounts held by the Haryana government.
Investigations revealed that an magnitude exceeding ₹250 crore was received by Sawan Jewellers from assorted companies and firms linked to the accused, including Ribhav Rishi, Abhay Kumar, Abhishek Singla and Swati Singla.
The connection said the "funds had been transferred into these companies/firms from authorities accounts done amerciable means".
Preliminary probe besides recovered that Katodia allegedly facilitated currency conversion services for the premier accused and received a hefty committee successful return.
"The accused falsely recorded the merchantability of golden items to these firms/companies successful their books. The accused, Rajan, played a pivotal relation successful hatching the conspiracy close from the inception of the fraud and actively contributed to executing the transgression arsenic portion of a premeditated plan," it said.
The accused volition beryllium produced earlier a tribunal successful Panchkula, and a constabulary remand volition beryllium sought for further interrogation.
The probe besides revealed that Sawan Jewellers received funds done unauthorised channels from entities specified arsenic Cap Co Fintech Services, SRR Planning Gurus Pvt Ltd and Swastik Desh Project, among others.
Earlier, 11 accused, including six slope employees, 4 backstage individuals and 1 authorities official, had been arrested successful transportation with the case.
