The Economic Offences Police Station (EOPS) in Sector 17, Chandigarh, registered a case today after discovering significant financial irregularities in IDFC Bank accounts belonging to the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST), which operates under the UT Administration.
IDFC Bank again falls in 75 crore fraud case
Police said that the case filed based on a complaint from the Project Director of CREST, acting on behalf of the Chief Executive Officer. The complaint claimed that unauthorized withdrawals and deposits made from the society’s bank accounts at a branch of IDFC First Bank in Sector 32.
Three bank employees, Abhay Kumar, Seema Dhiman, and Ribhav Rishi, along with other unnamed individuals named in the FIR filed under Sections 316(5), 318(4), 336(3), 338, 340(2), and 61(2) of the Bharatiya Nyaya Sanhita.
Illegal transactional activities in CREST accounts
According to the police, while reconciling CREST’s financial records with original bank statements from the branch, investigators found 303 unauthorized withdrawal and deposit transactions. These irregular activities allegedly caused a shortfall of Rs 75,16,04,293 in the principal amount and put IDFC Bank in fraud case. Investigators are also looking into the roles of other bank officials.
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