1st Haryana govt employee held in Rs 590 crore IDFC First Bank scam; routed over Rs 1 crore to personal accounts

PANCHKULA: Haryana vigilance and anti-corruption bureau Saturday made a fifth arrest in the Rs 590 crore-bank scam involving govt departments. Naresh Kumar Bhuwani, 52, is the first govt official to be arrested in the case.

Naresh worked as superintendent in the office of director, development and panchayat. He is a native of Jagram Bas district in Charkhi Dadri and a Mohali resident.


According to ACB, Naresh had formed Swastik Desh Project along with the other accused to siphon money from Haryana govt accounts. He not only allegedly received funds directly from Swastik Desh Project but also played a crucial role as a middleman between the co-accused and some public servants, said officers.

He is accused of transferring Rs 1 crore govt funds through a private agency to his bank account, Rs 10 lakh to his daughter's account, and Rs 25 lakh to buy a Toyota Fortuner.

The agency arrested Naresh on the basis of the firm's bank details. The agency said he illegally transferred Rs 40 lakh from the firm's account to his personal account on Nov 13, Rs 10 lakh on Nov 27, Rs 40 lakh on Nov 15 and another Rs 10 lakh on Nov 27.

The others already arrested in the case are Ribhav Rishi, a former branch head, and Abhay Kumar, former relationship manager, at Panchkula's Sector 32 IDFC First Bank, Abhay's wife, Swati Singla, and her brother Abhishek. Swati and Abhishek were shareholders of Swastik Desh Project, said officers. They are in seven days' remand.

Naresh was presented before Panchkula court, which remanded him in ACB custody for six days. "There is a high possibility of tampering with evidence. Since this scam involves transactions worth crores of rupees and numerous digital and documentary evidence, his custody is necessary to ensure that he does not tamper with important bank records, digital evidence, or govt documents," said ACB.

According to investigation so far, he allegedly entered into a well-organised criminal conspiracy with private individuals and some corrupt officials and employees, and allegedly transferred money from govt accounts to his personal and business accounts (IDFC First Bank, Chandigarh) using forged documents (sections 338 and 340(2) of IPC), which constitutes fraud (Section 318(4) of IPC). He allegedly unauthorisedly used govt funds, held in trust for public welfare, for his personal benefit, a serious offence punishable under Section 316(5) of IPC.

Several other persons are being questioned and more arrests are likely.