Rs. 75.34 Crores of government funds were embezzled by employees of IDFC First Bank. Today, the CBI has filed a chargesheet before the Ld. Court of Special Judge (CBI), Chandigarh, in connection with this case.
This case is related to funds of Chandigarh Renewable Energy Science & Technical Promotion Society (CREST), and funds were embezzled by officials of IDFC First Bank, Public Servants of CREST and Private Persons.
A total of 13 accused persons have been charge sheeted, comprising 5 bank officials of IDFC First Bank, 2 Public Servants of the CREST (Chandigarh UT Administration), 2 Shell Entities along with 4 Private Persons.
All accused persons are presently under judicial custody. They have been charge sheeted for offences of Criminal Conspiracy, Criminal Breach of Trust, Cheating, Forgery, Destruction of Evidence, and offences under the Prevention of Corruption Act, 1988.
Rs. 75.34 Crores were siphoned off from bank accounts of CREST by IDFC First bank officials in criminal connivance with public servants of CREST. The siphoned off funds were then diverted in connivance with several private persons who have also benefitted from these funds.
Investigation is continuing and more charge sheets will be filed in the future. The CBI has taken over three such cases, one from the State Vigilance and Anti-Corruption Bureau, Haryana, relating to eight departments of Govt. of Haryana, and two cases from the Economic Offences Police Station, Chandigarh UT pertaining to Chandigarh Smart City Ltd. and CREST Chandigarh.
CBI has already filed two charge sheets in Haryana’s case against 17 accused persons and one charge sheet in the case pertaining to Chandigarh Smart City Project against 7 accused persons and today, charge sheet is filed in the CREST Chandigarh case against 13 accused. All three investigations are continuing. More details will be released soon.
