CBI Arrests IAS Officer in Haryana Funds Scam: ₹60 Crore Misappropriation Uncovers Massive Bank Fraud

CBI Arrests IAS Officer in Haryana Funds Scam: ₹60 Crore Misappropriation Uncovers Massive Bank Fraud​

The Central Bureau of Investigation (CBI) has taken a major step in the pursuit of financial corruption, arresting Pankaj Aggarwal, an IAS officer. The arrest pertains to alleged misappropriation of government funds totaling Rs 60.54 Crores from accounts linked to Haryana School Shiksha Pariyojna Parishad (HSSPP) and the Haryana State Agriculture Marketing Board (HSAMB).

The CBI took over this high-profile case from the State Vigilance and Anti-Corruption Bureau, acting on a request by the Government of Haryana. Aggarwal was arrested following an investigation that revealed severe procedural violations connected to how these departmental accounts were managed.

Mismanagement of Departmental Accounts Leads to Loss​

The investigation determined that the bank accounts for both HSSPP and HSAMB had been opened in direct violation of the extant guidelines set forth by the Finance Department of the Government of Haryana. These accounts were opened during Aggarwal’s tenure as Principal Secretary of the concerned departments.

Through fraudulent transactions within these improperly maintained accounts, funds were systematically siphoned off. The misuse resulted in a net loss to the government amounting to Rs 60.54 Crores alone. Incriminating evidence against Pankaj Aggarwal has been collected by the CBI.

Extent of the Broader Financial Misconduct​

The scandal involving these two departments is part of an even larger financial fraud centered at the Sector 32 IDFC First Bank branch in Chandigarh. Authorities state that funds amounting to Rs 504 crores from eight different Haryana Government departments were siphoned off and routed towards various shell entities.

In connection with this specific case, CBI has charged sheeted a total of 17 individuals. These include six officials from IDFC First Bank or AU Small Finance Bank, three public servants from the Haryana government, two companies, and six private persons involved in the scheme.

Other High-Profile Cases Under Investigation​

The CBI has expanded its investigative focus across the Chandigarh Union Territory, taking charge of two other significant cases. These include matters concerning Chandigarh Smart City (CSCL)/Municipal Corporation and a fraud linked to CREST Chandigarh.

In the CSCL case, CBI has filed a chargesheet involving five bankers, one official from CSCL, and one private individual. Similarly, the CREST case features a chargesheet against five bankers, two officials from CREST, four private persons, and two companies. A senior IFoS officer has already been arrested in connection with the CREST Case.

Continued Pursuit of Justice​

In related developments within the state, Senior IAS officer RK Singh, who was previously arrested for misappropriation linked to the Municipal Corporation of Panchkula, has been remanded to judicial custody after his police remand period concluded. The CBI maintains its commitment to tracing every trail of the misappropriated public funds and bringing all those responsible for these financial abuses to justice.