The Haryana Government has dismissed one more employee in crores of fraud linked to IDFC First Bank and AU Small Finance Bank. Employees received huge benefits from Banks – luxury cars, houses, trips.
Rajesh Sangwan, who was working as Controller of Finance and Accounts in the Haryana State Agricultural Marketing Board (HSAMB), has been dismissed in connection with a ₹10 crore fraud linked to IDFC First Bank and AU Small Finance Bank.
The overall scam is around ₹590 crore belonging to different Haryana Government departments.
Sangwan was arrested on March 14 and was later suspended. The State Vigilance and Anti-Corruption Bureau (SV&ACB), Haryana, registered an FIR on February 23. Later, the CBI also registered a case on April 8.
According to the dismissal order dated April 30, the scam involved a large and organised financial fraud. It included misuse of official processes, fake banking transactions, and transfer of government funds into shell companies controlled by the accused.
Sangwan was responsible for handling financial matters, including opening and operating HSAMB bank accounts. A proposal to open a bank account with IDFC First Bank was started on July 2, 2025.
The proposal was initiated by Shamim Dar, Area Head of Government Banking Group in Chandigarh. The account form was completed on July 7, and the account was opened on July 10, 2025. At that time, the IDFC First branch manager was Ribhav Rishi, who is said to be the main accused in the case.
The dismissal order stated that Sangwan approved the proposal without proper checking. He did not compare interest rates or take quotes from empanelled banks before opening the account.
A fraudulent transaction took place on January 14, 2026, where ₹10 crore was transferred from the HSAMB account using cheque number 000006. This amount was sent through two RTGS transfers—₹9.75 crore to SRR Planning Gurus Pvt Ltd and ₹25 lakh to Mannat Contractors.
Sangwan was one of the authorised signatories of this account. It is alleged that Seema Dhiman, an employee of IDFC First Bank, called him to confirm the transaction. This call was also recorded in call detail records (CDR). Despite this, Sangwan did not take any action, even after bank statements were checked on February 6, 2026.
According to the order, co-accused Ribhav Rishi and Abhay Kumar told investigators that Sangwan received illegal money. Call records also showed that he was in regular contact with the accused during the time of the fraud.
The order further stated that Sangwan did not secure a cancelled cheque (No. 6), which was later misused. He also allowed a cheque book to be taken by Ribhav Rishi during a meeting without ensuring its return.
The government said that due to the serious nature of the case, involvement of multiple people, and risk of evidence tampering, a regular departmental inquiry was not possible. Therefore, he was dismissed under Article 311 (2) (b) of the Constitution of India.
Earlier, in the same scam, Naresh Kumar, a Superintendent in the Development and Panchayats Department, was dismissed on April 23. He is accused of receiving ₹6.55 crore and a Toyota Fortuner, and buying a house in Mohali in his wife’s name.
Another officer, Randhir Singh, Chief Accounts Officer in the Education Department, was also dismissed in a ₹54 crore fraud case. He allegedly received cash and other benefits, including flight tickets for a family trip from Chandigarh to Goa.
