Twin Chargesheets Filed by CBI in Multi-Crore IDFC First Bank Misappropriation Probe
(Judicial Quest News Network)
12, June, 2026- The Central Bureau of Investigation (CBI) on Friday filed two separate chargesheets arising from its probe into large-scale financial irregularities involving the Government of Haryana and Chandigarh Smart City Limited (CSCL), signalling intensified prosecutorial action in what the agency describes as complex, multi-party corruption schemes.
High-level filings in two courts
In the matter concerning alleged misappropriation of funds earmarked for the Government of Haryana, the CBI submitted the second chargesheet in the case before the Learned Special Judge, CBI, Panchkula.
The latest filing names two private persons as accused identified in the chargesheet as recipients of proceeds of crime.
This follows an earlier, substantial round of prosecution: the CBI had previously charge sheeted 15 accused entities and individuals, including three public servants, six banking officials, two corporate entities and four private persons.
The agency’s records indicate the aggregate pecuniary loss in the Haryana-linked transactions at approximately Rs. 504 crores.
Separately, the agency filed its first chargesheet arising from its probe into transactions linked to Chandigarh Smart City Limited.
That chargesheet, presented before the Learned Special Judge, CBI, Chandigarh, arraigns seven persons: five bank officials, one official of CSCL and one private individual. The Chandigarh matter relates to transactions that the CBI estimates resulted in a loss of around Rs. 153 crores to the Chandigarh Union Territory.
Allegations and statutory provisions
Both chargesheets level a series of grave allegations against the accused, invoking offences under the Indian Penal Code and special statutes. Central to the prosecution are charges of criminal conspiracy, criminal breach of trust, forgery and cheating.
In addition, where public servants and public interest funds are involved, the CBI has invoked provisions of the Prevention of Corruption Act.
The framing of offences reflects the agency’s case that funds meant for public projects were diverted through alleged collusive arrangements involving private intermediaries and bank personnel.
Lineage of investigations
The CBI’s actions follow institutional transfers of investigative responsibility. One of the Haryana matters was taken over from the State Vigilance and Anti-Corruption Bureau (SVACB), Haryana; two related matters were taken over from the Economic Offences Police Station, Chandigarh, concerning CSCL and CREST Chandigarh.
The consolidated probe, as advanced by the CBI, has involved forensic accounting, examination of banking records, scrutiny of corporate transactions, and recorded statements of witnesses and accused.
Procedural posture and investigation status
The filing of the chargesheets marks a prosecutorial milestone but not an end to inquiry. Trial courts will now take cognizance, issue processes as appropriate, and set down the matters for further criminal proceedings, including the framing of charges and recording of evidence.
The CBI has indicated that investigations remain active and that further chargesheets are anticipated as the probe broadens and additional documents and transactions are examined.
Magnitude and public interest
The CBI’s public statement underscores the substantial financial dimensions: an estimated loss of Rs. 504 crores in the Haryana-linked matter and Rs. 153 crores in the Chandigarh matter. Given that the allegations implicate public funds, government functionaries and bank officials, the cases attract significant public interest and raise questions about governance, internal controls and accountability in public procurement and fund disbursal for urban infrastructure projects.
CBI’s stated commitment
The agency reiterated its institutional commitment to conducting a fair, thorough and time-bound investigation, with the stated objective of ensuring that all those responsible are brought to account through the criminal justice process.
The course ahead will involve judicial scrutiny of the charges, contested fact-finding at trial, and potential appellate litigation depending on the courts’ directions and evidentiary outcomes.
