IDFC First Bank | Prosecution sanctions against 4 in Smart City fund diversion case

The four include Nalini Malik, former Smart City chief financial officer, bank officials Ribhav Rishi and Abhay Kumar, and Seema Dhiman, bank authoriser. All of them are currently in judicial custody.

The Central Bureau of Investigation (CBI) on Thursday secured prosecution sanctions against four accused in the case of alleged misappropriation of ₹116 crore belonging to the Chandigarh Smart City Limited deposited in IDFC First Bank’s Sector 32 bank.

On a request by the defence counsel, the court listed the matter for October 15 for scrutiny of the CBI challan. The accused were directed to remain in judicial custody and be produced through video conferencing on the next date. (HT File)

The four include Nalini Malik, former Smart City chief financial officer, bank officials Ribhav Rishi and Abhay Kumar, and Seema Dhiman, bank authoriser. All of them are currently in judicial custody.

On a request by the defence counsel, the court listed the matter for October 15 for scrutiny of the CBI challan. The accused were directed to remain in judicial custody and be produced through video conferencing on the next date.

On Thursday, Rishi, Dhiman and Kumar appeared before the court through video conferencing from Ambala Jail, whereas,

Malik and realtor Vikram Wadhwa were produced through video conferencing from Model Jail, Chandigarh.

IDFC First Bank has been represented before the court through its counsel as the alleged aggrieved entity.

During the hearing, Wadhwa, who had been granted default bail on June 16 but had not furnished bail bonds, sought permission to sign applications inside jail for generation of electricity and water bills. The court noted ambiguity over whether the applications were related to generation of bills or activation/updating of meter accounts and directed the defence to clarify the issue on the next date.