Overview
- The CBI filed its first chargesheet in mid‑June against 13 people over the CREST case, alleging about ₹75 crore was siphoned from three CREST accounts kept at IDFC First Bank’s Sector‑32 branch.
- Wednesday’s arrest of former CREST CEO Navneet Srivastava followed the chargesheet after investigators linked transfers to a private company where his wife and a relative are directors.
- Thursday’s arrest of IAS officer Ram Kumar (R K) Singh relates to a linked Panchkula Municipal Corporation probe that alleges diversion of ₹79.46 crore through fake fixed deposits and signed cheques handed to bank staff.
- CBI investigators say the scheme used forged banking instruments, hundreds of unauthorised transactions and named shell firms such as CAPCO Fintech Services and Swastik Desh Project to route money into real estate, jewellery and private accounts.
- The CREST and Panchkula cases form part of a wider IDFC First Bank Sector‑32 inquiry that has produced multiple chargesheets, arrests and ongoing forensic work to trace funds, identify further beneficiaries and link assets.