IDFC First Bank and AU Bank scam: CBI gets 3-day custody of Wadhwa, others
CBI tells the court that their custodial interrogation is required to expose the broader conspiracy orchestrating the opening of new accounts of Haryana government departments
The CBI Special Court, Haryana, on Tuesday granted three-day CBI custody of real estate developer Vikram Wadhwa and five others in the Rs 590 crore IDFC First Bank and AU Small Finance Bank scam.
CBI told the court that the role of Wadhwa came to fore in the case, “as huge amounts were siphoned off from the government funds to his accounts and also to the accounts of persons known to him as per his instructions”.
“That the role of Wadhwa has come to fore as he has played a major part in utilising and distributing the ill-gotten wealth to other persons,” said CBI.
It told the CBI court that Wadhwa’s custodial interrogation was required to unearth the “larger conspiracy” and “bring the other masterminds” behind it to justice.
Wadhwa is a hotelier and real estate developer. Over the years, he expanded into the hospitality and property sectors, eventually building a sizeable real estate business and becoming a known figure in local business circles.
The CBI court on Tuesday also sent Arun Sharma, resident of Panchkula, Seema Dhiman, resident of Mohali, Anuj Kaushal, resident of Mohali, bank employee Priyanka, resident of Ropar, and Rajan Singh Katodia, owner of Sawan Jewellers of Sector 35, Chandigarh, to three-day CBI custody.
CBI told the court that their custodial interrogation was required to expose the broader conspiracy orchestrating the opening of new accounts of Haryana Government departments, transfer of funds from other accounts to accounts maintained at IDFC First Bank and AU Small Finance Bank, and manipulation of bank records, creating fake and forged documents and siphoning off the government funds to shell companies.
CBI told the court that funds were transferred to multiple accounts through layering and then encashed. It added that the encashed amount was distributed among multiple beneficiaries.
Earlier, CBI had told the court that accused Swati Singla and her brother Abhishek Singla had received Rs 292 crore from funds from the Haryana Government departments’ accounts, parked with IDFC First Bank and AU Small Finance Bank. The Singla siblings were proprietors of the Swastik Desh Project firm, which received the amount. The money was further sent to various entities and individuals.
CBI had registered the FIR on April 8, based on the original FIR lodged by State Vigilance and Anti-Corruption Bureau (SV&ACB) on February 23. According to the FIR, the case involves offences under the Prevention of Corruption Act, along with charges of cheating, forgery, criminal conspiracy, fraudulent or dishonest use of forged documents, and criminal breach of trust under the Bharatiya Nyaya Sanhita (BNS), 2023.
