CBI Arrests Haryana Labour Welfare Board Officials in ₹504 Crore IDFC First Bank Scam

CHANDIGARH, JULY 08 — The Central Bureau of Investigation (CBI) has arrested two key officials of the Haryana Labour Welfare Board (HLWB) in connection with the major misappropriation of government funds. The arrested individuals have been identified as Accounts Officer Jugal Kishor and Contractual Accountant Amit Kumar. According to the investigation, the duo was involved in illegally siphoning off ₹50 crore of government money from the HLWB’s account, which was maintained at the Sector-32, Chandigarh branch of IDFC First Bank. The funds were reportedly diverted to various shell entities, including Capco Fintech Services, SRR Planning Gurus Private Limited, and Swastik Desh Projects, through fraudulent debit transactions. Following the discovery of incriminating evidence against them, both accused were presented before the court and have been remanded to CBI custody.

The fraud involving the HLWB is part of a significantly larger banking scam uncovered at the same IDFC First Bank branch in Chandigarh. Investigators revealed that a staggering ₹504 crore belonging to eight different departments of the Government of Haryana was allegedly siphoned off using forged or non-existent Fixed Deposits (FDs) alongside fraudulent debit transactions, before being routed through shell corporations. The CBI initially took over this extensive probe from the State Vigilance and Anti-Corruption Bureau of Haryana following a request from the state government. To date, the central agency has filed chargesheets against 17 accused individuals in the Haryana case, a list that includes six bank officials from IDFC First Bank and AU Small Finance Bank, three public servants of the Haryana government, two companies, and six private individuals. The CBI reiterated its commitment to uncovering the complete money trail and bringing all guilty parties to justice.