Chandigarh, 30 June (H.S.): The Central Bureau of Investigation has arrested two bank officials in connection with the IDFC First Bank fund misappropriation case involving Haryana Government departments.

The arrested accused have been identified as Shamim Dar, then Area Head of IDFC First Bank, and Charanjeet Singh Randhawa, then Branch Manager of AU Small Finance Bank, Mohali Branch.

According to the CBI, the accused allegedly played incriminating roles in facilitating the opening of bank accounts and fraudulent transactions through which public funds were diverted. The agency said incriminating evidence was collected against both accused during the investigation. They are being produced before the Special Judge, CBI, Panchkula.

The CBI had taken over the investigation from the State Vigilance and Anti-Corruption Bureau, Haryana, on the request of the state government. The alleged fraud took place at the Sector 32 branch of IDFC First Bank in Chandigarh. Funds worth around Rs 504 crore belonging to eight Haryana Government departments were allegedly siphoned off through forged or non-existent fixed deposits and debit notes and routed to shell entities.

So far, the CBI has chargesheeted 17 accused in the Haryana case. These include six bank officials of IDFC First Bank and AU Small Finance Bank, three Haryana Government public servants, two companies and six private persons.

The CBI has also taken over two related cases from the Chandigarh Union Territory, one linked to Chandigarh Smart City and Chandigarh Municipal Corporation, and another related to CREST Chandigarh. Chargesheets have also been filed in both cases.

The agency said it remains committed to bringing all those responsible to justice and tracing the full trail of misappropriated public funds.

Hindusthan Samachar / GURSHARAN SINGH