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CBI Arrest a Senior IFoS Officer. (Image Internet)
New Delhi: The Central Bureau of Investigation (CBI) has arrested senior Indian Forest Service (IFoS) officer Navneet Srivastava in connection with the alleged misappropriation of funds belonging to the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST).
Srivastava, who previously served as the Chief Executive Officer of CREST in Chandigarh, was taken into custody after investigators uncovered evidence linking him to the ongoing financial irregularities case. He was produced before a special CBI court in Chandigarh, which remanded him to three days of police custody.
According to investigators, funds maintained in three CREST bank accounts with a private bank in Chandigarh were allegedly siphoned off through a network of shell companies.
The agency claims that approximately ₹75 crore was diverted from the organisation and subsequently routed through various entities before being converted for personal use by beneficiaries. The alleged transactions took place during the period when Srivastava was heading the organisation.
The investigation has further revealed that a portion of the suspected proceeds was transferred to a private company where Srivastava's wife and a close relative reportedly serve as directors.
CBI officials are examining the financial trail to determine the extent of the alleged diversion and identify all individuals who may have benefited from the transactions.
The case has already seen multiple arrests. Former CREST Project Director Sukhwinder Singh Abrol and Accountant Sahil Kukkar were arrested earlier and have been charge-sheeted. Both are currently lodged in judicial custody.
The CBI had taken over the case from the Economic Offences Wing in Chandigarh and recently filed its first charge sheet against 13 accused individuals.
The charge sheet names officials from a private bank, public servants associated with CREST, directors of shell entities and other private individuals. All those accused are presently in judicial custody.
Investigators continue to examine financial records, company transactions and banking channels to establish the complete flow of funds.
The CBI has stated that it remains committed to conducting a thorough and impartial investigation to ensure accountability and bring all those responsible before the law.
