Chandigarh/New Delhi: The Central Bureau of Investigation (CBI) has filed its third chargesheet in the alleged Haryana government funds scam linked to IDFC First Bank and AU Small Finance Bank, detailing an alleged network of inducements that investigators say was used to influence government officials.
Among the most striking allegations in the chargesheet are claims of lavish parties, liquor, women dancers, alleged escort arrangements, ‘mujra’ performances, gold and cash routed through hawala channels.
The allegations have brought the role of 2000-batch Haryana-cadre IAS officer Pankaj Agarwal into sharp focus. Agarwal, who is currently in judicial custody, has been accused by the CBI of playing a key role in the alleged diversion of more than ₹60 crore from accounts belonging to the Haryana School Shiksha Pariyojana Parishad (HSSPP) and the Haryana State Agricultural Marketing Board (HSAMB).
The larger case involves the alleged misappropriation of hundreds of crores from Haryana government departments and organisations through bank accounts maintained with IDFC First Bank and AU Small Finance Bank.
The CBI’s latest chargesheet names six IAS officers, four bank officials and nine other Haryana government officials, taking the total number of accused chargesheeted in the case to 37.
What the CBI Chargesheet Says About the Alleged Inducements
According to the chargesheet details reported by ThePrint, the alleged inducements were part of a broader quid-pro-quo arrangement in which government funds were allegedly shifted from empanelled banks to selected branches of private banks, after which the money was allegedly siphoned off through multiple transactions.
The alleged inducements described by the CBI include:
- Lavish parties at five-star hotels
- Foreign liquor
- Women dancers allegedly brought from Delhi
- Alleged arrangements for escorts
- ‘Mujra’ performances at a private farmhouse
- Gold and cash allegedly delivered through hawala channels
Read Also: Suspended IAS Officer Pankaj Agarwal Denied Bail in ₹657 Crore Haryana Bank Scam
The CBI’s allegations suggest that such benefits were allegedly used to cultivate influence over public servants who could facilitate the movement of government funds.
ThePrint reported that some of the bills for five-star hotel parties were below ₹1 lakh, despite the lavish nature of the gatherings described in the chargesheet.
Ribhav Rishi’s Alleged Role
The chargesheet reportedly places Ribhav Rishi, a former IDFC First Bank official, at the centre of some of the alleged arrangements involving Pankaj Agarwal.
According to the chargesheet details reported by ThePrint, Rishi allegedly arranged women dancers from Delhi for parties in Chandigarh.
The agency has also alleged that Rishi arranged ‘mujra’ parties and women for sexual favours for Agarwal.
These allegations form part of the CBI’s broader theory that bank officials and government officials were allegedly working together to facilitate the diversion of public money.
The allegations have not been established in court.
Private Farmhouse, Foreign Dancers and Luxury Parties
The chargesheet reportedly contains details of alleged entertainment arrangements involving Agarwal.
According to the report, Agarwal was allegedly fond of dance parties and foreign dancers, who were allegedly brought to a private villa in Zirakpur, Mohali.
The CBI’s allegations portray these parties and other benefits as part of a pattern of inducements allegedly offered to public servants involved in the wider financial arrangement.
The agency is examining whether these alleged benefits were linked to specific decisions or actions taken in relation to government bank accounts.
Gold and Cash Allegedly Moved Through Hawala Channels
The alleged inducements were not limited to entertainment, according to the chargesheet.
The CBI has also described allegations involving gold and cash, including money allegedly routed through hawala channels.
The agency’s broader investigation is examining how funds allegedly moved through several accounts and entities after being diverted from government accounts.
According to the CBI, government money was allegedly transferred to third parties with no legitimate connection to the concerned departments. The funds were then allegedly layered through multiple accounts and converted into cash.
What Is the Allegation Against IAS Pankaj Agarwal?
Pankaj Agarwal, a 2000-batch Haryana-cadre IAS officer, is accused by the CBI of playing a role in the alleged diversion of funds belonging to the HSSPP and HSAMB.
The agency has alleged that more than ₹60.54 crore was misappropriated from the two government entities.
Agarwal had served as Principal Secretary, School Education, between December 2024 and June 2025 and had also served as Principal Secretary in the Agriculture Department.
The CBI arrested him in June 2026 in connection with the alleged fund diversion, following which the Haryana government suspended him.
The Larger Haryana Government Funds Scam
The allegations against Agarwal form only one part of a much larger investigation.
The case initially surfaced after discrepancies were detected between departmental records and the actual balance in a government account.
The Haryana State Vigilance and Anti-Corruption Bureau initially investigated the matter. The Haryana government subsequently sought a CBI probe, and the central agency took over the investigation.
The CBI’s FIR described allegations of a large-scale, organised and multi-layered fraud involving government funds, fraudulent banking operations and fictitious transactions.
The agency alleged that public funds were diverted into accounts of shell entities and other beneficiaries.
The investigation subsequently expanded to cover multiple Haryana government departments and organisations.
According to the CBI’s latest chargesheet, the departments and bodies affected include the Panchayat Department, Municipal Corporations of Panchkula and Kalka, Haryana School Shiksha Pariyojana Parishad, Haryana Labour Welfare Board, Haryana State Agricultural Marketing Board, Haryana State Pollution Control Board and Haryana Power Generation Corporation Limited.
Six IAS Officers Named in Latest Chargesheet
The CBI’s third chargesheet names six Haryana-cadre IAS officers:
Mohammed Shayin, Dr Saket Kumar, Pardeep Kumar, Vineet Garg, Ram Kumar Singh and Pankaj Agarwal.
The chargesheet also names three IDFC First Bank officials, one AU Small Finance Bank official and nine other Haryana government officials.
The CBI has invoked allegations including criminal conspiracy, cheating, forgery, destruction of evidence, use of forged documents, falsification of accounts, criminal breach of trust and abetment, along with offences under the Prevention of Corruption Act.
Pankaj Agarwal, Ram Kumar Singh and Pardeep Kumar have been arrested and are in judicial custody, while the other three IAS officers named in the latest chargesheet have not been arrested, according to the latest reports.
CBI’s ₹590-Crore Case and the Larger Figure
The case has been described in different reports using different figures because the investigation has expanded over time and covers related government accounts and entities.
The initial CBI case registered in April 2026 concerned allegations involving around ₹590 crore. The Enforcement Directorate subsequently referred to approximately ₹597 crore in public funds in its March 2026 search operation.
The CBI’s latest chargesheet has been reported as involving approximately ₹593 crore in the Haryana government funds case, while other reports have used the broader figure of ₹504 crore for the Haryana component of the investigation. A still larger figure has also appeared in reporting when related Chandigarh cases are included.
Therefore, the exact headline figure depends on which stage and component of the investigation is being referred to.
What Pankaj Agarwal’s Lawyer Says
Pankaj Agarwal’s lawyer Vishal Garg has rejected the allegations.
Speaking to ThePrint, Garg described the allegations as baseless and said that no recovery had been made from Agarwal, including during searches conducted at his residence.
He maintained that Agarwal is innocent.
Ribhav Rishi’s Defence
Deepanshu Bansal, representing Ribhav Rishi, also denied the allegations.
According to ThePrint, Bansal said the allegations were false on the face of it and stated that the defence had not been supplied with the supplementary report filed against the IAS officers.
He categorically denied the allegations against his client.
What the CBI Is Investigating
At the heart of the investigation is the alleged nexus between government officials, bank officials and private beneficiaries.
The CBI alleges that government funds that were supposed to remain with empanelled banks were moved to selected branches of IDFC First Bank and AU Small Finance Bank without following prescribed procedures.
Those funds were allegedly transferred onward to third parties, layered through multiple accounts and eventually converted into cash or otherwise diverted.
The agency is also examining the alleged benefits received by officials in return for facilitating these transactions.
The alleged parties, liquor, women, gold and cash described in the latest chargesheet are therefore being investigated not as isolated incidents, but as part of the CBI’s alleged quid-pro-quo theory surrounding the movement of public funds.
Investigation Still Underway
The latest chargesheet is the third chargesheet filed by the CBI in the case.
With 19 additional accused named in the latest filing, the total number of people chargesheeted has risen to 37, according to the latest reports.
The allegations concerning Pankaj Agarwal and other accused remain matters for judicial determination. A chargesheet represents the investigating agency’s allegations and evidence collected during investigation; it does not by itself establish guilt.
The court proceedings and further investigation will determine the extent of criminal liability, if any, of the accused.
Read also: CBI Opposes IAS Officer Pankaj Agarwal’s Bail, Alleges Role in Rs 657 Crore Haryana Bank Scam
