CBI FILES FIRST CHARGESHEET IN IDFC FRAUD CASE PERTAINING TO CREST CHANDIGARH

Face2News/Chandigarh

The Central Bureau of Investigation (CBI) filed the first charge sheet, today, before the Ld. Court of Special Judge (CBI), Chandigarh, in connection with the fund misappropriation of Chandigarh Renewable Energy Science & Technical Promotion Society (CREST) involving officials of IDFC First Bank, Public Servants of CREST and Private Persons.

A total of 13 accused persons have been charge sheeted, comprising 5 bank officials of IDFC First Bank, 2 Public Servants of the CREST (Chandigarh UT Administration), 2 Shell Entities along with 4 Private Persons. All accused persons are presently under judicial custody. They have been charge sheeted for offences of Criminal Conspiracy, Criminal Breach of Trust, Cheating, Forgery, Destruction of Evidence, and offences under the Prevention of Corruption Act, 1988.

The present case pertains to the misappropriation of Government funds to the tune of Rs. 75.34 Crores, siphoned off from bank accounts of CREST by IDFC First bank officials in criminal connivance with public servants of CREST. The siphoned off funds were then diverted in connivance with several private persons who have also benefitted from these funds.

Investigation is continuing and more charge sheets will be filed in future.

It may be recalled that, CBI has taken over three such cases, one from the State Vigilance and Anti-Corruption Bureau, Haryana relating to eight departments of Govt. of Haryana, and two cases from the Economic Offences Police Station, Chandigarh UT pertaining to Chandigarh Smart City Ltd. and CREST Chandigarh. CBI has already filed two charge sheets in Haryana’s case against 17 accused persons and one charge sheet in the case pertaining to Chandigarh Smart City Project against 7 accused persons and today, charge sheet is filed in the CREST Chandigarh case against 13 accused. All three investigations are continuing

CBI remains firmly committed to the thorough, impartial, and expeditious investigation of corruption and financial crimes and to ensure that all persons responsible are brought to justice.