CBI arrests two bank officials in Rs 504-crore Haryana govt funds misappropriation case

The CBI has arrested two former bank officials in the ₹504-crore Haryana government funds misappropriation case, alleging they facilitated fraudulent transactions and diversion of public money.

Post Published By: Ayushi Bisht

Updated : 30 June 2026, 3:49 PM IST

CBI arrests two bank officials (Img: Dynamite News)

New Delhi: The Central Bureau of Investigation (CBI) has arrested two former bank officials in connection with the alleged misappropriation of funds belonging to several Haryana government departments through irregular fixed deposit investments and fraudulent banking transactions.

The arrested individuals have been identified as Shamim Dar, the then Area Head of IDFC First Bank, and Charanjeet Singh Randhawa, the then Branch Manager of AU Small Finance Bank's Mohali branch. Both have been produced before the Special CBI Court in Panchkula.

Accused Allegedly Facilitated Fraudulent Transactions

According to the investigating agency, the two officials played key roles in facilitating the opening of bank accounts and enabling transactions that allegedly helped divert public funds. The CBI said evidence collected during the investigation points to their involvement in routing money through accounts created for the purpose.

The agency is probing the alleged diversion of surplus funds from Haryana government departments by investing them in fixed deposits through forged or unauthorised transactions.

Case Involves ₹504 Crore and Multiple Accused

The investigation relates to an alleged fraud worth ₹504 crore, involving funds from eight Haryana government departments. The scam is alleged to have been executed through the Sector 32 branch of IDFC First Bank in Chandigarh by routing money to shell entities using forged fixed deposits and debit notes.

So far, the CBI has filed charges against 17 accused, including six bank officials from IDFC First Bank and AU Small Finance Bank, three Haryana government officials, two companies and six private individuals.

Probe Expanded to Other Cases

The agency said it has also taken over two additional financial irregularity cases linked to the Chandigarh Smart City project and the Chandigarh Municipal Corporation. Charge sheets have already been filed in those investigations against several bankers, government officials, companies and private individuals.

The CBI said the investigation is continuing to identify all those responsible and ensure recovery and accountability in the alleged diversion of public funds.