CBI Files Chargesheet in Massive Siphoning of ₹75.34 Crore from Chandigarh Government Funds
The Central Bureau of Investigation (CBI) has filed a significant chargesheet related to the alleged misappropriation of ₹75.34 crore from the accounts of the Chandigarh Renewable Energy Science and Technical Promotion Society (CREST). The case involves criminal collusion between officials from IDFC First Bank, CREST administrators, shell companies, and several private individuals.The CBI confirmed that the chargesheet was filed before a special court in Chandigarh, detailing criminal offenses ranging from criminal conspiracy and breach of trust to cheating and forgery.
Allegations of Misappropriation Against Financial Institution Officials
The core of the case revolves around how funds totaling ₹75.34 crore were siphoned off. The CBI stated that this misappropriation was carried out by IDFC First Bank officials in criminal connivance with public servants employed at CREST.A CBI Spokesperson confirmed that the process involved diverting these government funds into private hands. The investigation revealed that several private individuals benefited from the siphoned-off money, implicating them directly in the scheme of illicit financial gain.
Scope and Charges Listed in the CBI Filing
The chargesheet filed by the CBI names 13 accused parties under the scope of this case. These include five officials from IDFC First Bank and two administrators working within CREST (part of the Chandigarh UT Administration).In addition to these individuals, the charging document names two shell companies and four private citizens implicated in the fraudulent activity. The offenses leveled against them encompass criminal conspiracy, criminal breach of trust, cheating, and forgery.
Broader CBI Probe on Government Fund Exploitation
This specific chargesheet is part of a broader investigation by the central probe agency into fund exploitation across multiple projects. The CBI had previously registered three First Information Reports (FIRs) based on requests received from both the Chandigarh UT government and the state of Haryana.The CBI official mentioned that two separate chargesheets have already been filed concerning the case in Haryana, which involved a massive bilking amount of ₹657 crore. Furthermore, another chargesheet involving seven accused persons has been filed regarding the Chandigarh Smart City Project.
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