Chandigarh [India], March 30(ANI): In a major development in the multi-crore fraud involving the diversion of public funds, Chandigarh Police has arrested Sukhwinder Abrol, Project Director of CREST, in connection with an alleged cheating case involving more than Rs 83 crore.
According to police, the case pertains to FIR dated March 12, registered at Economic Offences Police Station Sector 17, Chandigarh, under multiple sections of the Bharatiya Nyaya Sanhita, following a complaint filed by the Chief Executive Officer of CREST.
Investigators said an alleged fraud amounting to Rs 83,04,85,582 was committed by accused persons identified as Abhay Kumar, Seema Dhiman, and Ribhav Rishi, all officials of IDFC FIRST Bank.
During the investigation, police found that funds diverted from CREST bank accounts to shell companies were subsequently transferred to accounts linked to Sukhwinder Abrol, his relatives, and close associates.
After his arrest, Abrol was produced before the duty magistrate, who remanded him to five days of police custody for further interrogation.
Police said the investigation is underway to trace the cash trail and ascertain the possible involvement of other CREST employees in the alleged fraud.
Earlier, IDFC FIRST Bank credited Rs 583 crore to departments of the Government of Haryana within 24 hours, honouring 100 per cent of the principal and interest claimed following a fraud incident at its Chandigarh branch, the bank said on Tuesday.
According to a statement issued by the bank, preliminary findings indicate that certain branch employees allegedly acted fraudulently in clearing forged instruments and payment instructions, potentially in collusion with external parties. The matter is currently under investigation by the relevant authorities. “Based on the preliminary internal review conducted, the matter is confined to a specific group of government-linked accounts within Haryana Government operated through the said branch in Chandigarh and does not extend to other customers of the Chandigarh Branch,” the statement read.
Despite the ongoing probe, the bank said it immediately honoured the full amount claimed by the concerned Haryana government departments, amounting to Rs 583 crore. The departments of the Haryana government have thanked and appreciated the bank’s principled approach, prompt action and professional conduct in addressing the issue.
The bank stated that, with the full support of the Haryana government and law enforcement agencies, it is determined to take action against those responsible for the fraud and bring the perpetrators to justice.
Highlighting its financial position, the bank said it remains well-capitalised, with a capital adequacy ratio of 16.22 per cent as of December 31, 2025, and total customer business of Rs 5,62,090 crore, reflecting a year-on-year growth of 22.6 per cent. The incident pertains to certain accounts of Haryana government departments maintained at the bank’s Chandigarh branch. Further investigation is underway. (ANI)