CBI arrests two ex-bankers in ₹504 crore Haryana govt fund fraud
Synopsis
The CBI has arrested two former bank officials linked to a ₹504 crore fraud on eight Haryana government departments — funds siphoned through forged fixed deposits and shell entities. With 17 already chargesheeted and two parallel Chandigarh cases under probe, this is shaping up as one of the largest public-fund banking frauds in the region.
Key Takeaways
The CBI arrested Shamim Dar (ex-Area Head, IDFC First Bank) and Charanjeet Singh Randhawa (ex-Branch Manager, AU Small Finance Bank Mohali) on Tuesday . ₹504 crore belonging to eight Haryana government departments was allegedly siphoned through forged fixed deposits and shell entities at the Sector 32 IDFC First Bank branch, Chandigarh .
A total of 17 accused — including six bank officials, three government public servants, two companies, and six private persons — have been chargesheeted so far.
The CBI took over from the State Vigilance and Anti-Corruption Bureau, Haryana at the state government's request.
Two linked cases — involving Chandigarh Smart City (CSCL) and CREST — are also under CBI probe, with chargesheets filed in both.
The Central Bureau of Investigation (CBI) on Tuesday arrested two former bank officials — one from IDFC First Bank and one from AU Small Finance Bank — in connection with the misappropriation of public funds belonging to Haryana government departments. The arrests, made in Panchkula, bring fresh momentum to a sprawling multi-crore banking fraud investigation that has already seen 17 accused chargesheeted.
Who Was Arrested
Shamim Dar, then Area Head of IDFC First Bank, and Charanjeet Singh Randhawa, then Branch Manager of the AU Small Finance Bank Mohali Branch, were taken into custody following the CBI's ongoing probe. After their arrest, both were produced before the Special CBI Judge in Panchkula for custody proceedings.
According to the CBI, the two accused played key roles in facilitating the opening of bank accounts and routing fraudulent transactions through which public funds were diverted. They were also allegedly involved in irregular investments of surplus government funds in fixed deposits.
Scale of the Fraud
The fraud was centred at the Sector 32 IDFC First Bank branch in Chandigarh, where funds worth ₹504 crore belonging to eight Haryana government departments were siphoned off. According to the CBI, the money was diverted through forged and non-existent fixed deposits and debit notes, then routed to shell entities.
The CBI said incriminating evidence was collected against both accused during the investigation. Of the 17 individuals and entities chargesheeted so far, the list includes six bank officials from IDFC First Bank and AU Small Finance Bank, three public servants of the Haryana government, two companies, and six private persons.
How the CBI Got Involved
The federal probe agency took over the investigation from the State Vigilance and Anti-Corruption Bureau, Haryana, at the request of the state government. This is a notable detail — the referral signals that state-level investigative resources were deemed insufficient for a case of this complexity and scale.
Notably, the CBI has also assumed charge of two related cases from the Chandigarh Union Territory: one involving Chandigarh Smart City Limited (CSCL) and the Chandigarh Municipal Corporation, and another concerning the Chandigarh Renewal Energy and Science and Technology Promotion Society (CREST). Chargesheets have been filed in both.
Linked Cases and Wider Network
In the CSCL case, the CBI has chargesheeted five bankers, one CSCL official, and one private person. In the CREST case, the accused include five bankers, two CREST officials, four private persons, and two companies. The convergence of multiple cases across Haryana and Chandigarh points to what investigators appear to view as a coordinated network of financial misconduct involving both bank insiders and government functionaries.
As the CBI widens its net, further arrests and chargesheets in the linked cases remain a distinct possibility.
Point of View
Not isolated misconduct. The fact that the state government itself had to hand the probe to the CBI is an implicit admission that the rot ran deep enough to compromise local oversight. Whether the trail leads higher up the banking or bureaucratic chain will define the true scope of this case.
NationPress
30 Jun 2026
Frequently Asked Questions
Who did the CBI arrest in the Haryana government fund fraud case?
The CBI arrested Shamim Dar, former Area Head of IDFC First Bank, and Charanjeet Singh Randhawa, former Branch Manager of AU Small Finance Bank's Mohali Branch. Both were produced before the Special CBI Judge in Panchkula for custody proceedings after their arrest on Tuesday.
How much money was allegedly siphoned in the Haryana banking fraud?
According to the CBI, funds worth ₹504 crore belonging to eight Haryana government departments were siphoned off through forged and non-existent fixed deposits and debit notes, and subsequently routed to shell entities via the Sector 32 IDFC First Bank branch in Chandigarh.
How many people have been chargesheeted in the Haryana fraud case so far?
The CBI has chargesheeted 17 accused to date, including six bank officials from IDFC First Bank and AU Small Finance Bank, three Haryana government public servants, two companies, and six private persons.
Why is the CBI handling this case instead of Haryana Police?
The CBI took over the investigation from the State Vigilance and Anti-Corruption Bureau, Haryana, at the request of the state government itself, indicating the scale and complexity of the fraud exceeded the capacity of state-level investigative agencies.
Are there other related fraud cases under CBI investigation?
Yes. The CBI has also taken charge of two cases from Chandigarh Union Territory — one involving Chandigarh Smart City Limited (CSCL) and the Chandigarh Municipal Corporation, and another involving CREST. Chargesheets have been filed in both, naming multiple bankers, officials, private persons, and companies.
