Five IDFC First Bank Officials, Two CREST Public Servants Among Those Chargesheeted; More Chargesheets Likely, Says CBI
New Delhi, June 17 : The Central Bureau of Investigation (CBI) has filed its first chargesheet before the Special Judge (CBI), Chandigarh, in connection with the alleged misappropriation of government funds belonging to the Chandigarh Renewable Energy Science and Technical Promotion Society (CREST), involving officials of IDFC First Bank, public servants and private individuals.
According to an official CBI press release issued on June 16, the agency has chargesheeted a total of 13 accused persons in the case. These include five officials of IDFC First Bank, two public servants associated with CREST under the Chandigarh UT Administration, two shell entities, and four private individuals.
The investigating agency stated that all the accused are presently under judicial custody and have been booked under various provisions relating to criminal conspiracy, criminal breach of trust, cheating, forgery, destruction of evidence, and offences under the Prevention of Corruption Act, 1988.
CBI investigations revealed that the case pertains to the alleged misappropriation of government funds amounting to ₹75.34 crore, which were allegedly siphoned off from the bank accounts of CREST by certain officials of IDFC First Bank in criminal connivance with public servants of CREST.
The agency further alleged that the diverted funds were subsequently routed to several private persons who also benefited from the fraudulent transactions.
The CBI said that the investigation in the case is still underway and indicated that more chargesheets are likely to be filed in the future as the probe progresses.
The agency recalled that it had taken over three major corruption-related cases, including one referred by the State Vigilance and Anti-Corruption Bureau, Haryana, involving eight departments of the Haryana Government, and two cases from the Economic Offences Police Station, Chandigarh UT, pertaining to Chandigarh Smart City Limited and CREST Chandigarh.
It further stated that it had already filed two chargesheets in the Haryana case against 17 accused persons and one chargesheet in the Chandigarh Smart City Project case against seven accused persons. With the filing of the present chargesheet, the CREST case now has 13 accused facing prosecution.
Reiterating its commitment to combating corruption and financial crimes, the CBI said it remains dedicated to conducting a thorough, impartial and expeditious investigation to ensure that all those responsible are brought to justice.(KNC)
