Overview
- The CBI on June 12 filed two chargesheets that allege about ₹657 crore was misappropriated from Haryana government and Chandigarh Smart City accounts held at IDFC First Bank.
- The Enforcement Directorate arrested former Haryana panchayat superintendent Naresh Kumar in early June and says he received proceeds and acted as a middleman in converting diverted funds into cash.
- Investigators say the scheme used fictitious fixed‑deposit receipts and a network of shell companies and jewellers to turn bank transfers into cash and hide the money trail.
- The CBI and ED have named bankers, government officials, a realtor and a jeweller among the accused, including Vikram Wadhwa, Ribhav Rishi and Rajan Singh Katodia, and have charged them with conspiracy, forgery and corruption offences.
- IDFC First Bank says it reimbursed ₹583 crore of principal and interest to Haryana departments while agencies trace assets, probe other banks and properties in the Tricity, and warn more chargesheets and recovery steps are likely.