CBI Raids Multiple Locations in ₹661 Crore Bank Fraud Case

Chandigarh: The Central Bureau of Investigation has conducted simultaneous raids at six locations across Delhi-NCR, Chandigarh, and Panchkula in connection with the diversion of ₹661 crore in public funds from Haryana government departments and Chandigarh Union Territory, with the alleged complicity of bank officials. The raids targeted premises linked to senior Haryana cadre officials, Noida-based Vipam Consultancy Private Limited, and its director.

Eight Haryana government departments were affected, including Haryana Power Generation Corporation Limited and the Haryana School Shiksha Pariyojana Parishad, along with Chandigarh Municipal Corporation and the Chandigarh Renewable Energy and Science and Technology Promotion Society.

How the Fraud Was Executed

Government funds deposited in IDFC First Bank and AU Finance Bank branches in Chandigarh and Panchkula were siphoned off using forged signatures and fabricated documents, with officials facilitating the opening of bogus accounts and the transfer of funds into them. The diverted money was first routed into Vipam Consultancy's account before being transferred to the company director's personal account.

The fraud came to light in January-February 2026 when government departments attempted to close the bank accounts and found the funds missing. Haryana constituted an inquiry committee, and the case was subsequently handed to the CBI, which took over three cases earlier registered by the Haryana State Vigilance and Anti-Corruption Bureau and the Chandigarh Economic Offences Wing.

The scam began in 2024 during the tenure of then Chief Minister Manohar Lal Khattar, and continued after Nayab Singh Saini assumed office in March 2024 and retained power after the October 2024 elections. The CBI has filed an initial chargesheet before a special CBI court in Panchkula and says further chargesheets against additional accused will follow.