The Central Bureau of Investigation (CBI) has arrested two bank officials in connection with the alleged Haryana Government Funds Scam, a case involving the suspected misappropriation of more than ₹500 crore from various government departments through fraudulent banking transactions. The arrests represent a significant development in one of the most closely watched financial investigations involving public funds in recent years.
According to the investigating agency, those arrested include Shamim Dar, the then Area Head of IDFC FIRST Bank, and Charanjeet Singh Randhawa, the then Branch Manager of AU Small Finance Bank’s Mohali branch. The CBI alleges that both officials played a key role in facilitating transactions that diverted government funds through fraudulent fixed deposits and other banking arrangements.
Investigators claim that the funds were routed through a network of accounts, shell entities and intermediaries in violation of established banking norms and financial regulations. The alleged transactions are believed to have caused substantial losses to the Haryana government and prompted a large-scale probe involving multiple agencies and departments.
CBI Alleges Role of Bank Officials in Fraudulent Transactions
According to the investigation, public funds belonging to several Haryana government departments were allegedly transferred from official accounts and redirected through unauthorized financial channels. The CBI has alleged that certain banking procedures and compliance safeguards were bypassed, allowing the movement of large sums of money without proper scrutiny.
Officials involved in the investigation believe the accused facilitated the opening and operation of accounts that were later used to execute the alleged fraud. The agency is examining whether internal banking controls were deliberately ignored or manipulated to allow the transactions to proceed.
The probe is also focused on tracing the complete money trail and identifying all beneficiaries who may have received funds through the alleged scheme. Financial records, account statements and digital evidence are being scrutinized as part of the ongoing investigation.
Background of the Haryana Government Funds Scam
The alleged Haryana Government Funds Scam first came to light after irregularities were detected in government financial transactions involving fixed deposits and treasury accounts. Preliminary findings suggested that large amounts of public money had been diverted through a complex network involving officials, private entities and financial institutions.
Since the investigation began, the CBI has conducted multiple searches across Haryana, Chandigarh, Delhi-NCR and other locations. Several government officials and private individuals have already been questioned or arrested in connection with the case. The agency has also filed charge sheets detailing what it describes as a well-planned conspiracy to siphon public funds.
Investigators believe the fraud may have been carried out over an extended period and involved coordination among multiple individuals across different institutions. The case has raised serious concerns about financial oversight mechanisms and the protection of public funds within government systems.
The latest arrests indicate that investigators are expanding their scrutiny beyond government departments and examining the role of financial institutions and banking officials in the alleged transactions. Experts say such cases highlight the importance of robust compliance frameworks and regular monitoring of high-value public accounts.
The CBI has stated that both accused will be produced before the competent court, where it is expected to seek custodial interrogation. Officials say further arrests cannot be ruled out as investigators continue to examine documents, digital records and financial transactions linked to the case.
As the investigation progresses, authorities are expected to focus on recovering diverted funds, identifying additional beneficiaries and establishing the full extent of the alleged conspiracy. The outcome of the probe could have significant implications for financial governance and accountability in the management of public money.
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