2 Haryana govt officials arrested in IDFC bank case

Both, along with owner of Sawan Jewellers, sent to 4-day police remand; the officials are finance controllers of marketing board and school shiksha pariyojna parishad

The state vigilance and anti-corruption bureau (ACB) has arrested two more accused — Rajesh Sangwan and Randhir Singh — in the ₹590 crore IDFC First Bank fraud case. Both, along with Chandigarh-based jeweller Rajan Katodiah, were produced in a local court on Sunday that sent them to four days of police remand.

So far, the vigilance bureau has arrested 14 accused in the case that was registered on February 23

Sangwan is posted as controller (finance and accounts) with the Haryana State Agricultural Marketing Board (HSAMB), while Singh is serving as controller (finance and accounts) with the Haryana School Shiksha Pariyojna Parishad (HSSPP). According to officials, both were found involved in the commission of the offence and allegedly violated instructions issued by the Haryana finance department from time to time. They are accused of hatching a criminal conspiracy with other co-accused to siphon off government funds and allegedly accepted substantial amounts as illegal gratification.

On the other hand, more than ₹250 crore was received by Sawan Jewellers from firms linked to the main accused, according to officials. Rajan Katodiah, the owner of Sawan Jewellers, allegedly converted cash for the accused for a hefty commission and showed the transactions as gold sales in the names of these firms and companies. Officials also found that Sawan Jewellers received unauthorised funds from Cap Co Fintech Services, SRR Planning Gurus Pvt Ltd and Swastik Desh Project among others.

The investigators sought five-day remand, stating that sustained and thorough interrogation of the accused is crucial to ascertain the complete sequence of events and uncover the conspiracy behind the fraud.

Officials further said the accused need to be confronted with seized documents and digital evidence to establish the nexus between bank officials, private persons and public servants. The custodial interrogation is also required to trace the proceeds of crime and recover forged documents used in the commission of the offence.

So far, the vigilance bureau has arrested 14 accused in the case that was registered on February 23 under various sections of the Bharatiya Nyaya Sanhita (BNS) and the Prevention of Corruption Act.