IDFC First Bank-AU Finance Bank fraud case: CBI searches 6 premises

The Central Bureau of Investigation (CBI) on Saturday conducted searches at six premises in Chandigarh, Panchkula and Delhi- NCR region in connection with the ongoing investigation into the IDFC First Bank and AU Finance fraud case. The case is related to the misappropriation fraud and syphoning of Rs 661 crore government funds in eight departments of the Haryana government and two departments of Municipal Corporation Chandigarh and CREST Chandigarh. 
In a statement, CBI said that the search operations were carried out at residential premises of senior public servants of Haryana Cadre and a private consultant firm and its Director in connection with irregularities committed and with regard to receipt of proceeds of crime. During investigation evidences have surfaced suggesting that the public servants had colluded with bank officials and had facilitated in opening of accounts, transfer of funds and subsequent diversion thereof.
The CBI has already filed First Chargesheet before the CBI Court Panchkula in the case detailing the role of public servants of two departments i.e.  Haryana Power Generation Corporation Ltd., Haryana School Shiksha Pariyojna Parishad of Government of Haryana. The chargesheet also explained the modus operandi adopted to fraudulently siphon off government funds parked with IDFC First Bank and AU Finance bank of Haryana Government.  Investigation across all three cases is actively continuing and further action is being taken against all those found involved and additional chargesheet will be filed soon. According to the agency, fraud is leading to misappropriation of Rs661 crore.

(Freelance Journalist)