CBI to Investigate Massive Rs 590 Crore Fraud Case in Haryana

The CBI is set to investigate a major embezzlement case involving Rs 590 crore stolen from Haryana government's accounts at IDFC First Bank. Initial findings suggest funds were diverted to shell companies and real estate ventures. IDFC First Bank has reimbursed the principal amount to the Haryana government.

The Central Bureau of Investigation (CBI) is poised to take over the investigation into a substantial fraud involving Rs 590 crore, reportedly embezzled from the Haryana government's accounts at IDFC First Bank in Chandigarh, sources confirmed on Thursday.

The Haryana government had resolved to transfer the investigation to the central agency last month. An official indicated that the process of taking over is underway, with an FIR to be filed shortly based on an earlier case by the Haryana State Vigilance and Anti-Corruption Bureau (SV & ACB).

According to allegations, the fraud was carried out by IDFC First Bank employees and others, showing funds redirected for personal use, and transferred into shell companies and real estate under pretenses. IDFC First Bank assured it reimbursed the full principal amount to the Haryana government and vowed collaboration to pursue justice.

(With inputs from agencies.)