CBI tracks Rs 20cr benami property in Rs 661cr bank fraud probe

Chandigarh: The Central Bureau of Investigation's (CBI) search operations on Saturday in connection with the alleged Rs 661-crore misappropriation of Haryana govt funds through IDFC First Bank and AU Small Finance Bank led to the detection of a suspected benami property worth nearly Rs 20 crore, allegedly acquired by a senior Haryana cadre public servant in the name of a close associate.

The property, a 500-square-yard bungalow in a posh sector of Panchkula, was reportedly purchased around two months ago. CBI teams visited the premises, questioned persons linked to the transaction and collected documents that allegedly indicate the use of proceeds of crime in the purchase.

In a parallel development, both the CBI and the Enforcement Directorate (ED) have incorporated records relating to the death of Balwant Singh, a finance department official who died after allegedly jumping from the eighth floor of the Haryana Civil Secretariat earlier this year.

Sources said investigators have collected the FIR, inquest proceedings and statements of Singh's widow and brother. The agencies have also moved court seeking to have the alleged suicide note treated as a dying declaration.

According to sources, Singh had left behind not only a suicide note but also an audio recording of a phone conversation with an officer in which he allegedly discussed a Rs 25-crore cheque issued in the name of a private company from the pension account of Haryana Power Generation Corporation Ltd (HPGCL).

Singh was allegedly under severe pressure and had been summoned by the CBI for questioning a day after his death. Investigators are examining claims that he was pursuing the return of the Rs 25-crore cheque and may have possessed crucial information regarding the movement of govt funds.

Meanwhile, the CBI intensified its probe into the alleged scam by conducting searches at eight locations, including the residences of four senior Haryana cadre IAS officers.

The searches were carried out in Chandigarh, Panchkula and Delhi-NCR as part of the agency's investigation into the diversion of funds belonging to eight Haryana govt departments and two Chandigarh Administration entities — Municipal Corporation Chandigarh and CREST Chandigarh.

According to the CBI, evidence gathered so far suggests collusion between public servants and bank officials in opening accounts, transferring govt funds and facilitating their subsequent diversion. The agency has alleged that certain public servants received "undue advantages" for their facilitation and inaction.

The CBI also recovered documents, digital devices and property records from the premises searched, including those linked to Noida-based M/s Vipam Consultancy Pvt Ltd, which allegedly received proceeds of crime that were later transferred to the personal account of its director.

The agency has already filed its first chargesheet before a Panchkula court detailing the alleged role of officials of Haryana Power Generation Corporation Ltd and Haryana School Shiksha Pariyojna Parishad. Investigations in all three registered cases are continuing.