CBI raids six premises in ₹661 crore IDFC First Bank-AU Finance fraud case
Synopsis
The CBI has raided six locations — including homes of senior Haryana cadre officers and a Noida consultancy — in a ₹661 crore fraud that allegedly drained funds from ten government departments across Haryana and Chandigarh. With a chargesheet already filed and another expected soon, the net is tightening around both public servants and private intermediaries.
Key Takeaways
The CBI searched six premises in Chandigarh , Panchkula , and Delhi-NCR on 7 June in the ₹661 crore fraud case.
The alleged fraud affected eight Haryana government departments and two Chandigarh bodies — Municipal Corporation Chandigarh and CREST Chandigarh .
Vipam Consultancy Pvt.
Ltd. , Noida , allegedly received crime proceeds that were then transferred to the director's personal account.
The CBI has already filed a chargesheet before the CBI Court, Panchkula , covering two departments: Haryana Power Generation Corporation Ltd. and Haryana School Shiksha Pariyojna Parishad .
An additional chargesheet is expected soon; investigation across all three cases is actively continuing.
The Central Bureau of Investigation (CBI) conducted searches at six premises on Saturday, 7 June in connection with its ongoing probe into the alleged ₹661 crore misappropriation of government funds involving IDFC First Bank and AU Finance Bank, officials said. The fraud allegedly affected eight departments of the Haryana government and two bodies in Chandigarh — the Municipal Corporation Chandigarh and CREST Chandigarh.
Where the Searches Were Conducted
The search operations spanned premises in Chandigarh, Panchkula, and the Delhi-NCR region. Among the locations searched were the residential premises of senior public servants belonging to the Haryana cadre, as well as the offices and premises linked to M/s. Vipam Consultancy Pvt. Ltd. and its director.
According to officials, incriminating documents, digital devices, property documents, and other relevant material were seized during the operations.
How the Fraud Was Allegedly Carried Out
The CBI's investigation has reportedly established that public servants colluded with bank officials to facilitate the opening of accounts, the transfer of government funds, and the subsequent diversion of those funds. The officials are alleged to have received undue advantages for their facilitation and inaction.
M/s. Vipam Consultancy Pvt. Ltd., based in Noida, allegedly received proceeds of crime into its account, which were then transferred to the director's personal account, according to officials.
How the Cases Reached the CBI
The CBI took over one case from the State Vigilance and ACB Haryana and two cases originally registered at the Economic Offences Police Station, Chandigarh. The consolidated investigation covers charges of criminal conspiracy, misappropriation of government funds, and related offences allegedly committed in connivance with bank officials and public servants.
Notably, the agency has already filed its first chargesheet before the CBI Court, Panchkula, detailing the roles of public servants from two departments — Haryana Power Generation Corporation Ltd. and Haryana School Shiksha Pariyojna Parishad. The chargesheet also laid out the modus operandi used to fraudulently siphon off government funds parked with both banks.
What the CBI Said
'Investigation across all three cases is actively continuing, and further action is being taken against all those found involved, and an additional chargesheet will be filed soon. CBI remains firmly committed to the thorough and impartial investigation of financial crimes and misuse of public funds,' the agency said in a statement.
What Comes Next
With the first chargesheet already filed and a supplementary chargesheet expected shortly, the case is moving toward trial. The breadth of the alleged fraud — spanning ten government departments and two major private banks — signals that further arrests and disclosures are likely as the investigation proceeds.
Point of View
Not a one-off lapse. The alleged involvement of senior Haryana cadre officers and a private consultancy acting as a conduit raises questions about internal audit mechanisms in state departments. The CBI's decision to consolidate three separate cases signals it is pursuing a unified conspiracy theory, which will be tested when the supplementary chargesheet is filed. What remains unclear is the accountability trail within the banks themselves — specifically, what due-diligence failures allowed fraudulent accounts to be opened and large-scale transfers to go undetected.
NationPress
13 Aug 2026
Frequently Asked Questions
What is the ₹661 crore IDFC First Bank-AU Finance Bank fraud case?
It is an alleged misappropriation of ₹661 crore in government funds parked with IDFC First Bank and AU Finance Bank, reportedly involving criminal conspiracy between public servants and bank officials. The fraud is said to have affected eight Haryana government departments and two Chandigarh bodies — Municipal Corporation Chandigarh and CREST Chandigarh.
Where did the CBI conduct its searches on 7 June?
The CBI searched six premises across Chandigarh, Panchkula, and Delhi-NCR. The locations included residential premises of senior Haryana cadre public servants and the offices linked to M/s. Vipam Consultancy Pvt. Ltd. and its director in Noida.
What is the role of Vipam Consultancy in the fraud?
According to CBI officials, M/s. Vipam Consultancy Pvt. Ltd., Noida, allegedly received proceeds of crime into its account, which were then transferred to the director's personal account. Incriminating documents, digital devices, and property documents were seized from its premises.
Has a chargesheet been filed in this case?
Yes. The CBI has already filed its first chargesheet before the CBI Court, Panchkula, detailing the roles of public servants from Haryana Power Generation Corporation Ltd. and Haryana School Shiksha Pariyojna Parishad. An additional chargesheet is expected to be filed shortly.
How did the CBI take over this investigation?
The CBI took over one case from State Vigilance and ACB Haryana and two cases originally registered at the Economic Offences Police Station, Chandigarh, consolidating them into a single coordinated investigation covering charges of criminal conspiracy and misappropriation of public funds.
