CBI court rejects bail plea of three accused in ₹504-cr funds diversion case

The case pertains to the alleged diversion of government funds through bank accounts and transactions involving private entities

a A CBI court on Tuesday dismissed the bail applications of three accused in the alleged ₹504 crore IDFC First Bank fraud involving multiple Haryana government departments.

According to the agency, funds were siphoned off through cheques and debit notes and subsequently diverted to shell entities allegedly controlled by the accused. (HT File)

The accused are Swati Singla, a business partner in Swastik Desh Project; Parveen Kumar, then senior accounts officer of the Haryana State Pollution Control Board (HSPCB), and Priyanka Bhatoa, a customer service executive with the bank.The central bureau of investigation (CBI) had opposed their bail pleas.

The case pertains to the alleged diversion of government funds through bank accounts and transactions involving private entities. According to the investigation, a huge amount in crores was routed through a bank account belonging to Swastik Desh Project, a private company.

The CBI has alleged that Parveen Kumar opened the bank account in an unauthorised way without departmental approval or any official record. The account was subsequently allegedly used to facilitate fraudulent transactions involving government funds.

According to the agency, funds were siphoned off through cheques and debit notes and subsequently diverted to shell entities allegedly controlled by the accused.

The court rejected the bail applications after hearing arguments from both sides.

Earlier this month, the CBI filed its third chargesheet in the case against the 19 accused. The chargesheet also named six IAS officers of Haryana.