ED arrests ex-Haryana official in ₹645 crore IDFC Bank fraud case
Synopsis
The ED has arrested a former Haryana government superintendent in a ₹645 crore IDFC First Bank fraud — a case that now has both the CBI and ED closing in simultaneously. With shell entities, 10 government bodies, and senior public servants implicated, this is shaping up as one of the most layered public-funds embezzlement cases in the region in years.
Key Takeaways
The ED's Chandigarh Zonal Office arrested former Haryana superintendent Naresh Kumar on 11 June under the PMLA, 2002 .
The fraud involves embezzlement of ₹645 crore from accounts of the Haryana Government , Chandigarh UT Administration , and two private schools.
Kumar allegedly received proceeds of crime of ₹1.20 crore in his and a family member's bank accounts, plus undisclosed cash.
Principal accused Vikram Wadhwa allegedly operated in connivance with Ribhav Rishi , Abhay Kumar , bank officials, and government functionaries.
Shell entity Swastik Desh Project was used to route embezzled funds.
The CBI had earlier searched six premises in Chandigarh, Panchkula, and Delhi-NCR in the same case, covering eight Haryana departments and two Chandigarh bodies.
The Directorate of Enforcement (ED) has arrested Naresh Kumar, a former superintendent in the office of the Director, Development and Panchayat, Haryana, in connection with an ongoing money laundering probe into the ₹645 crore IDFC First Bank fraud. The arrest was made by the ED's Chandigarh Zonal Office on Wednesday, 11 June under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
What the Investigation Revealed
According to the ED, the investigation uncovered the embezzlement of public funds totalling ₹645 crore from bank accounts belonging to the Haryana Government, the Chandigarh UT Administration, and two private schools in Chandigarh and Panchkula — all maintained with IDFC First Bank. The federal agency identified Vikram Wadhwa as one of the principal accused, allegedly acting in connivance with Ribhav Rishi, Abhay Kumar, bank officials, and government functionaries to siphon off the funds.
Kumar's Alleged Role
The ED said Kumar allegedly received funds directly from Swastik Desh Project, a shell entity used to route embezzled government money. Beyond direct receipt, he reportedly served as a key middleman in diverting funds and played an active role in the acquisition and concealment of proceeds of crime. According to the agency, Kumar received proceeds of crime amounting to ₹1.20 crore in bank accounts held in his own name and that of a family member. The ED added that substantial cash generated from the embezzled funds was also delivered to him directly.
CBI Had Already Moved In
Earlier this month, the Central Bureau of Investigation (CBI) conducted searches at six premises across Chandigarh, Panchkula, and Delhi-NCR in connection with the same fraud — described as involving over ₹600 crore in misappropriation linked to IDFC First Bank and AU Finance Bank. The searches covered the residential premises of senior public servants of the Haryana cadre and the offices of Vipam Consultancy and its director. The probe spans irregularities across eight departments of the Haryana government and two Chandigarh bodies — the Municipal Corporation Chandigarh and CREST Chandigarh.
Scale and Pattern of the Fraud
This comes amid a broader pattern of multi-agency scrutiny of financial irregularities in Haryana's public administration. The simultaneous involvement of the ED and CBI signals the scale of the alleged conspiracy, which reportedly spans shell entities, government bank accounts, and private intermediaries. Notably, the fraud involves funds from at least 10 government bodies across two jurisdictions — Haryana and Chandigarh UT — making it one of the more complex public-funds embezzlement cases in the region in recent years.
What Happens Next
Kumar will be produced before a competent court as required under PMLA provisions. The ED is expected to pursue further arrests and asset attachments as the investigation progresses. With both the CBI and ED now actively engaged, legal proceedings are likely to intensify in the weeks ahead.
Point of View
The real question is how high up the chain the ED's evidence reaches. The simultaneous CBI and ED action suggests coordinated pressure, but past multi-agency probes in Haryana have stalled at the operational layer without reaching political or top-administrative principals. Whether this case breaks that pattern will define its significance.
NationPress
10 Aug 2026
Frequently Asked Questions
Who is Naresh Kumar and why was he arrested by the ED?
Naresh Kumar is a former superintendent in the office of the Director, Development and Panchayat, Haryana. The ED arrested him on 11 June under the PMLA for allegedly receiving proceeds of crime worth ₹1.20 crore and acting as a middleman in the diversion of embezzled government funds in the ₹645 crore IDFC First Bank fraud.
What is the ₹645 crore IDFC First Bank fraud?
It is an alleged embezzlement of ₹645 crore from bank accounts of the Haryana Government, Chandigarh UT Administration, and two private schools, all maintained with IDFC First Bank. The funds were reportedly siphoned through shell entities and with the help of bank and government officials.
Who are the main accused in the IDFC Bank fraud case?
Vikram Wadhwa is identified as one of the principal accused, allegedly acting in connivance with Ribhav Rishi, Abhay Kumar, bank officials, and government functionaries. A shell entity called Swastik Desh Project was used to route the embezzled funds.
What role did the CBI play in this case?
Earlier in June, the CBI conducted searches at six premises in Chandigarh, Panchkula, and Delhi-NCR in connection with the same fraud. The searches covered eight Haryana government departments and two Chandigarh bodies — the Municipal Corporation Chandigarh and CREST Chandigarh.
What happens after the ED arrest under PMLA?
Under PMLA provisions, Naresh Kumar will be produced before a competent court. The ED is expected to pursue further arrests and asset attachments as the investigation continues, with both the ED and CBI now actively engaged in parallel proceedings.
