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The Central Bureau of Investigation (CBI) has taken over the probe into the alleged misappropriation of around ₹590 crore involving funds parked with IDFC First Bank and AU Small Finance Bank.
The federal agency registered a regular case (RC), equivalent to an FIR, replicating the first information report lodged by the Haryana Anti-Corruption Bureau (ACB) on February 23, 2026. The RC was registered after the Haryana government’s vigilance department accorded consent under Section 6 of the DSPE Act, extending the powers and jurisdiction of the Members of Delhi Special Police Establishment to the whole of the state of Haryana. The central government subsequently issued a notification on April 8 through the department of Personnel and training under Section 5 of the DSPE Act, formalising the CBI’s jurisdiction for this investigation.
“A team of CBI officers met the ACB officials on Thursday to get acquainted with the aspects of the banking scam and pick up documents of evidentiary value,” said an official.
The RC, registered by the Economic Offences Wing-III, New Delhi, and signed by superintendent of police Navin Kumar Soni, mirrors the ACB’s FIR. It invokes Section 13(2) read with 13(1)(a) of the Prevention of Corruption Act, 1988 (as amended in 2018) and Sections 316(5), 318(4), 336(3), 338, 340(2), and 61(2) of the Bharatiya Nyaya Sanhita (BNS). These pertain to criminal breach of trust, cheating, forgery, and criminal conspiracy.
The CBI RC, seen by HT, states: “The case involved serious allegations of misappropriation of government funds and a large scale, organised, and multi-layered fraud pertaining to fraudulent banking operations and fictitious transactions allegedly undertaken in a systematic manner to siphon off government funds into the accounts of shell entities, including Swastik Desh Project, SRR Planning Gurus Pvt. Ltd., Cap Co Fintech Services, R.S. Traders and other associated firms/individuals, resulting in a substantial loss to the public exchequer, estimated to exceed Rs. 550 crore.”
Sources said the CBI will now conduct a comprehensive probe into the role of bank officials, private individuals, and government functionaries, examining the money trail and alleged violations in financial procedures.
Officials said it is likely that the second FIR registered by the ACB in the Panchkula municipal corporation banking scam will also be referred to the CBI.
The development comes amid an administrative churn in which the state government transferred four IAS officers on Wednesday night. These officers, assigned key postings on March 19, were shifted to sidelined positions within three weeks as part of a larger shuffle of 15 IAS officers. In a related action, two IAS officers promoted from the state civil services were placed under suspension; while no official reasons were stated, officials indicated the decisions are linked to the ongoing investigations into these financial irregularities.
