Chandigarh High Court Questions Police Authority in IDFC Fraud Case Transfer to CBI
Chandigarh: IDFC fraud Case transferred to CBI
Hindustan Times
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The Punjab and Haryana High Court has demanded clarification from Chandigarh police regarding their authority to seek the de-freezing of IDFC Bank accounts linked to a ₹200-crore fraud case. The investigation was recently transferred to the Central Bureau of Investigation (CBI), raising concerns about police actions post-transfer.
- 01The Punjab and Haryana High Court is questioning Chandigarh police's authority in the IDFC fraud case.
- 02The investigation has been transferred to the Central Bureau of Investigation (CBI).
- 03Chandigarh police sought to de-freeze accounts linked to the ₹200-crore fraud case.
- 04The court has set a deadline of May 14 for the police to respond.
- 05The case involves significant embezzlement from municipal and renewable energy funds.
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The Punjab and Haryana High Court has raised concerns over the actions of Chandigarh police in the ongoing IDFC Bank fraud case, which involves ₹200 crore. The court questioned why the police sought to de-freeze accounts linked to the fraud after the investigation was transferred to the Central Bureau of Investigation (CBI) on April 27. The court, led by Chief Justice Sheel Nagu and Justice Sanjiv Berry, has demanded a response from the police by May 14. IDFC Bank filed a petition seeking safeguards against the dissipation of funds and requested information from the Enforcement Directorate regarding actions under the Prevention of Money Laundering Act (PMLA), 2002. The fraud involves the embezzlement of ₹117 crore from the Chandigarh Municipal Corporation and ₹75 crore from the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST). Additionally, a similar case of ₹590 crore embezzlement from Haryana government accounts has also emerged, raising further scrutiny on banking practices.
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The court's scrutiny of police actions could lead to stricter oversight of financial institutions and government accountability in Chandigarh.
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