Chandigarh: The Central Bureau of Investigation (CBI) has detailed alleged financial and other inducements received by several Haryana-cadre IAS officers in its investigation into the ₹657-crore IDFC First Bank-AU Small Finance Bank scam.
The allegations form part of the CBI’s investigation into the alleged diversion of funds from accounts belonging to eight Haryana government departments and two Chandigarh Administration entities. The agency has put the alleged fraud at ₹657 crore, while the alleged loss involving the eight Haryana departments has been reported at around ₹504 crore.
The CBI has filed a third chargesheet naming 19 accused, including five serving Haryana-cadre IAS officers and retired IAS officer Pardeep Kumar. The chargesheet alleges criminal conspiracy, cheating, forgery, falsification of accounts, criminal breach of trust and offences under the Prevention of Corruption Act.
What the CBI Alleged Against Pankaj Agarwal
Pankaj Agarwal (IAS: 2000: Haryana) is among the officers named in the CBI case. He served as Principal Secretary, School Education, before moving to the Agriculture and Farmers’ Welfare Department in 2025.
According to sources, Agarwal allegedly received various benefits from Ribhav Rishi, the former IDFC First Bank manager identified by investigators as the alleged mastermind.
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The alleged benefits included dance parties, liquor, hotel stays and sexual services. The CBI has also alleged that four of 10 dance parties held at Jade Manor, Zirakpur, were organised at Agarwal’s request on dates in November and December 2025 and January 2026.
Investigators reportedly found that groups of dancers were brought from Delhi and that large amounts of cash were allegedly used for showering money on performers.
The CBI has also alleged that two Haryana department accounts associated with Agarwal’s postings were opened with IDFC First Bank and that more than ₹60 crore was allegedly lost through fraudulent transactions. The third chargesheet identifies Agarwal as one of the officers allegedly involved in the opening and operation of these accounts.
Vineet Garg and Pardeep Kumar: HSPCB Accounts Under Scanner
Vineet Garg (IAS: 1991: Haryana) and Pardeep Kumar (IAS: 2011: Haryana) are accused in connection with transactions involving the Haryana State Pollution Control Board (HSPCB).
Garg served as HSPCB chairman and Pardeep Kumar as Member Secretary during the period examined by the CBI. The agency has alleged that HSPCB funds were concentrated with IDFC First Bank despite a Finance Department ceiling, resulting in an alleged loss of ₹169.69 crore through two accounts.
The CBI has also alleged that Garg received two 50-gram gold coins at his Chandigarh residence around Diwali 2025. The coins were allegedly arranged through a jeweller linked to the wider case and delivered in the presence of accused Ribhav Rishi and another person.
Pardeep Kumar was suspended by the Haryana government in April 2026 and later named as an accused. He subsequently sought anticipatory bail, arguing that deposits beyond prescribed limits were made on the directions of senior officials.
Ram Kumar Singh Accused of ₹2.5-Crore Bribe
Ram Kumar Singh (IAS: 2012: Haryana), a former Commissioner of the Municipal Corporation, Panchkula, is accused of facilitating transactions linked to the alleged diversion of public funds.
The CBI has alleged that the Panchkula Municipal Corporation account at IDFC First Bank suffered an alleged loss of ₹79.46 crore.
According to the investigation, the agency has also alleged that Singh received ₹2.5 crore as illegal gratification. It has alleged that ₹50 lakh was paid at a Chandigarh residence on January 11, 2026, while two further ₹50-lakh transfers were allegedly routed through a hawala operator to Singh’s son in Delhi.
Singh was arrested by the CBI in June and was subsequently sent to judicial custody in the case.
Mohammed Shayin and Alleged Hospitality Payments
Mohammed Shayin (IAS: 2002: Haryana), who served as Managing Director of the Haryana Power Generation Corporation Limited (HPGCL), has also been named in the case.
The CBI has alleged that an HPGCL account was opened with IDFC First Bank despite the bank not initially being empanelled for the relevant government banking activity.
The agency has linked Shayin to alleged benefits including food and beverage bills at hotels and restaurants in Chandigarh. The reported CBI findings include payments for meals and drinks involving Shayin and his family or associates.
The CBI has also alleged that the HPGCL accounts suffered substantial losses through fraudulent transactions. Its third chargesheet identifies Shayin among the accused officers.
Saket Kumar’s Role in Panchayat Department Account
Saket Kumar (IAS: 2005: Haryana) was serving as Additional Principal Secretary to the Haryana Chief Minister and administrative head of the Development and Panchayats Department during the period under investigation.
The CBI has alleged that an account for the Panchayat Department was opened at IDFC First Bank without following the prescribed process and that the account subsequently recorded fraudulent transactions.
The chargesheet-related reporting puts the alleged loss from the account at around ₹48.90 crore. Saket Kumar’s residence was also searched by the CBI in August as part of the investigation.
Other IAS Officers Examined in the Investigation
The CBI investigation has also examined the roles of other Haryana-cadre IAS officers.
DK Behera (IAS: 2007: Haryana) served as Director General of the Development and Panchayats Department during part of the period under investigation. The CBI examined signatures on cheques linked to the department’s account, with the genuineness of certain signatures still requiring forensic examination, according to the reported investigation.
Mani Ram Sharma (IAS: 2009: Haryana) was also examined by the CBI in connection with the wider investigation. He was not named in the third chargesheet. Sharma is a 2009-batch Haryana-cadre officer.
The CBI had earlier obtained permission under Section 17A of the Prevention of Corruption Act to investigate the role of several IAS officers. The investigation into some officers has remained open, according to the chargesheet reporting.
How the ₹657-Crore Bank Scam Allegedly Worked
The broader CBI investigation concerns alleged collusion between officials of IDFC First Bank, AU Small Finance Bank and government officials.
Investigators have alleged that bank accounts were opened or used in violation of government procedures and that funds were subsequently moved through fraudulent transactions to entities connected with the alleged network.
The CBI has reported 236 fraudulent debit transactions worth ₹818 crore and 84 fraudulent credit transactions worth ₹214 crore across 12 accounts in the wider case. The reported loss to banks and depositors was estimated at around ₹504.36 crore, while the overall figure reaches ₹657 crore when the two Chandigarh Administration entities are included.
The Enforcement Directorate is conducting a separate investigation into the case and has put the alleged loss at a different figure of ₹645 crore.
CBI Investigation Continues
The third chargesheet names 19 accused, including IAS officers, bank officials and other government officials. The allegations include conspiracy, cheating, forgery, falsification of accounts, criminal breach of trust and corruption offences.
The CBI investigation and related court proceedings are continuing. The allegations against the officers are subject to judicial determination, and inclusion in a chargesheet does not by itself establish guilt.
