NEW DELHI/PANCHKULA – The Central Bureau of Investigation (CBI) has officially taken over the investigation into a massive, organized fraud case in Haryana involving the misappropriation of government funds estimated to exceed ₹550 crores.
The case, originally registered by the State Vigilance & Anti-Corruption Bureau (SV&ACB) in Panchkula, involves allegations of fictitious banking operations and the siphoning of public money into shell entities.
Magnitude of the Scam
The fraud was reportedly executed through a complex, multi-layered system of fraudulent banking operations. Investigations by a three-member state committee revealed that government funds were systematically diverted into the accounts of various shell companies. Key entities named in the First Information Report (FIR) include:
- Swastik Desh Project
- SRR Planning Gurus Pvt. Ltd.
- Cap Co Fintech Services
- R.S. Traders
Modus Operandi: Forgery and Banking Lapses
The scam came to light following a mismatch in accounts maintained at IDFC First Bank and AU Small Finance Bank under the MMGAY-2.0 Scheme. According to the inquiry report, funds totaling ₹75 crores (₹50 crore in IDFC and ₹25 crore in AU Small Finance Bank) were initially “safely parked” without utilization approvals.
However, when the department attempted to close these accounts in January 2026, IDFC First Bank transferred only ₹1.27 crore, claiming the remaining balance had been processed via multiple cheques. The committee found that:
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- Cheques and debit notes allegedly bore the forged signatures of former Director General Sh. D.K. Behera, who had already relinquished his charge in October 2025.
- IDFC First Bank allegedly honored a cheque where the amount in figures was ₹2.5 crore, but written in words as “Rupees Twenty-Five,” suggesting a clear act of malafide intention.
- Transaction alerts were allegedly sent to a mobile number registered to a department superintendent, Sh. Prince, rather than the authorized officials.
Central Intervention
Given the magnitude, complexity, and inter-state ramifications of the case, the Haryana Government accorded its consent on March 25, 2026, to extend the jurisdiction of the CBI to the state. This was followed by a formal notification from the Government of India on April 8, 2026, authorizing the CBI to re-register the case.
The accused, including unknown bank officials and private individuals, have been booked under several sections of the Bharatiya Nyaya Sanhita (BNS), 2023, and the Prevention of Corruption Act, 1988 (as amended in 2018), including criminal conspiracy, cheating, and criminal breach of trust.
The investigation is currently being led by Sh. Puspal Paul, Additional Superintendent of Police, CBI, EO-III, New Delhi.
