Panchkula (Haryana) [India], February 26 (HBTV): The Panchkula District Court on Wednesday sent four accused to seven-day police remand in connection with a financial fraud involving IDFC First Bank accounts belonging to the Haryana government.
During the proceedings, the police argued that custodial remand was necessary to interrogate the accused face-to-face and collect relevant documents. The Anti-Corruption Bureau (ACB) sought custody to determine the accounts and locations where the funds were allegedly transferred, as a detailed investigation is underway to ensure full recovery of the misappropriated amount.
The investigating agency is also examining the possible involvement of other bank officials or employees. In the coming days, the probe will focus on whether additional individuals are linked to the case and if more arrests will follow.
The defence objected to the arrests, citing a lack of prior notice. After the seven-day remand period, the accused are scheduled to be produced before the court again on March 4.
Earlier, the Haryana Vigilance and Anti-Corruption Bureau arrested four individuals, including a former branch head, in connection with the alleged INR 590 crore fraud at the Chandigarh branch of IDFC First Bank.
Addressing a press conference at the ACB headquarters in Panchkula, Director General Arshinder Singh Chawla said government funds were allegedly misappropriated through the involvement and collusion of bank employees.
The accused have been identified as former bank manager Ribhav Rishi, alleged to be the mastermind; Abhay, a former relationship manager; Swati Singla, Abhay’s wife and a director of a private company; and her brother Abhishek, who allegedly assisted in the conspiracy.
Meanwhile, on Tuesday, Haryana Chief Minister Nayab Singh Saini said that the INR 578 crore lost in the fraud, including funds of state departments and boards, was fully recovered within 24 hours. He said INR 556 crore was deposited and approximately INR 22 crore was returned as interest.
Speaking in the Assembly, the Chief Minister said, ‘I want to clarify before this House that the entire amount lost in yesterday’s incident, including the funds of some Haryana government departments, boards and corporations, has been deposited back into our accounts within just 24 hours. Approximately INR 556 crore was deposited by the bank, and we also received interest of approximately INR 22 crore. The interest has also been returned. We have recovered all of that money within just 24 hours. Four or five middle- and lower-level employees of a bank branch in Chandigarh colluded to carry out this operation.’
He added that strict action would be taken against any government official or employee found involved in the matter and that a high-level committee would be formed to recommend measures to prevent similar incidents in the future.
‘Strict action will be taken against any government official or employee involved in it. We will form a high-level committee that will not only hold the officers and employees accountable but also make suggestions to prevent such situations in future,’ he said.
(ANI)