In connection with the alleged financial fraud involving IDFC First Bank accounts linked to the Haryana government, the Panchkula District Court has sent the four accused to seven-day police remand .
During the hearing, the police told the court that custodial remand was necessary to question the accused face-to-face and gather key documents. The Anti-Corruption Bureau (ACB) said it needs custody to trace the exact bank accounts where the money was transferred and identify the locations involved. Officials said a detailed probe is underway to ensure full recovery of the misused funds.
Investigators are also looking into whether other bank officials or employees played a role in the fraud. In the coming days, the agency will examine if more names surface and whether additional suspects need to be produced before the court.
The defence objected to the arrests, saying prior notice was not given. After the seven-day remand ends, the accused will be produced in court again on March 4.
Earlier, the Haryana Vigilance and Anti-Corruption Bureau arrested four people, including a former branch head, linked to the alleged ₹590 crore fraud at the Chandigarh branch of IDFC First Bank.
Addressing a press conference at the ACB headquarters in Panchkula, Director General Arshinder Singh Chawla said the government funds were allegedly siphoned off with the involvement and collusion of certain bank employees.
The arrested individuals include former bank manager Ribhav Rishi, who is believed to be the main conspirator; Abhay, a former relationship manager and close associate; Swati Singla, Abhay’s wife and director of a private company; and her brother Abhishek, who allegedly helped in executing the conspiracy.
Meanwhile, on Tuesday, Haryana Chief Minister Nayab Singh Saini said the ₹578 crore lost in the fraud at IDFC First Bank — including funds of state departments and boards — was recovered within 24 hours. He said ₹556 crore was deposited back and ₹22 crore was returned as interest. He also announced that a high-level committee will be set up to investigate the matter and suggest steps to prevent such incidents in the future.
Speaking in the Assembly, the chief minister said "I want to clarify before this House that the entire amount lost in yesterday's incident, including the funds of some Haryana government departments, boards and corporations, has been deposited back into our accounts within just 24 hours. Speaker, approximately Rs 556 crore was deposited by the bank, of which we also received interest of approximately Rs 22 crore. The interest has also been returned. We have deposited that amount and recovered all of that money within just 24 hours... Four or five middle and lower-level employees of a bank branch in Chandigarh colluded to carry out this operation."
He added that action would be taken against any government official or employee involved in the case. CM Saini added, “Strict action will be taken against any government official or employee involved in it... We would form a high-level committee that would not only hold the officers and employees involved in this matter accountable, but would also make suggestions to prevent future situations like the one that has arisen today."
Also read: Four held in Haryana in ₹590-cr IDFC First Bank scam
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