CBI Raids IAS Officer Saket Kumar’s Residence in Rs 657 Crore Bank Scam Probe, Investigation Widens to Senior Bureaucrats
The Central Bureau of Investigation (CBI) has intensified its investigation into the alleged Rs 657 crore IDFC First Bank-AU Small Finance Bank scam by conducting searches at the residence of senior IAS officer Saket Kumar. The search operation marks another significant development in one of the country’s biggest alleged banking fraud cases involving government department accounts, forged banking documents and the suspected diversion of public funds through shell companies.
The case has already drawn national attention because of the alleged involvement of senior bureaucrats, bank officials and private individuals. Investigating agencies believe the fraud involved a carefully planned conspiracy in which forged financial documents were allegedly used to siphon off hundreds of crores of rupees from accounts belonging to various government departments.
Officials say the investigation remains at a crucial stage, with both the CBI and the Enforcement Directorate (ED) examining financial transactions, banking records and official documents to determine the full extent of the alleged fraud and identify every individual connected to the operation.
CBI Conducts Searches at IAS Officer’s Residence
According to reports, the CBI carried out searches at the residence of IAS officer Saket Kumar as part of its ongoing investigation into the alleged financial scam.
While the search operation has been confirmed, officials have not announced any arrest of the officer. The agency has also not released details regarding materials recovered during the searches, as the investigation is still underway.
The searches are understood to be part of the agency’s efforts to collect documentary evidence and verify financial as well as administrative records linked to the alleged transactions under scrutiny.
Investigators are examining whether any official decisions, approvals or administrative actions played a role in facilitating the alleged diversion of government funds.
Focus on Government Department Bank Account
The investigation is examining Saket Kumar’s alleged role in connection with the opening and operation of a bank account belonging to the Haryana Development and Panchayats Department at the IDFC First Bank branch located in Sector 32, Chandigarh.
According to investigators, this account is one of the key elements being examined in the broader investigation into the alleged diversion of public money.
Officials are analysing account-opening documents, banking procedures, approvals and related correspondence to determine whether any irregularities occurred during the establishment and operation of the account.
The agency is also examining whether prescribed financial protocols and administrative procedures were followed while handling government department funds.
Held Key Administrative Positions During the Relevant Period
At the time the alleged financial irregularities are believed to have taken place, Saket Kumar was serving as the Additional Principal Secretary to the Chief Minister of Haryana.
In addition to that responsibility, he was also heading the Development and Panchayats Department, making him one of the senior administrative officers associated with the department whose accounts are now under investigation.
Investigators are attempting to determine whether decisions taken during that period had any connection with the financial transactions currently being examined. Officials have not publicly disclosed any conclusions regarding individual responsibility, and the investigation continues.
Probe Expands to Multiple Senior IAS Officers
The investigation has widened considerably over the past several months and now includes multiple senior IAS officers. Apart from Saket Kumar, officials currently under scrutiny include Mani Ram Sharma, D.K. Behera, Mohd Shayin and Vineet Garg.
Former IAS officer Pardeep Kumar, who retired on June 30, is also facing investigation in connection with the alleged scam. Meanwhile, IAS officers Pankaj Agarwal, Ram Kumar Singh and Pardeep Kumar are presently in judicial custody as the investigation progresses.
The involvement of several senior bureaucrats has made the case one of the most closely watched corruption and financial crime investigations in recent years.
CBI Obtained Mandatory Approval Before Proceeding
The Central Bureau of Investigation had earlier obtained approval under Section 17A of the Prevention of Corruption Act before initiating action against the serving public servants. Such approval is required in cases involving decisions taken by public servants while discharging their official duties.
Following the grant of approval, the agency expanded its investigation and initiated searches, questioning and examination of official records connected with the alleged conspiracy.
Alleged Diversion of Rs 657 Crore
According to investigating agencies, the alleged fraud involves the diversion of nearly Rs 657 crore belonging to eight departments of the Haryana Government and two departments of the Chandigarh Administration.
Investigators suspect that the alleged diversion was carried out through a conspiracy involving bank officials, government functionaries and private individuals. The agencies believe public funds were transferred out of government-controlled accounts using forged financial documents before being routed through a network of intermediary accounts and shell companies.
The alleged amount involved makes the case one of the largest banking fraud investigations linked to government department accounts in recent years.
Forged Banking Documents Under Scanner
Investigators allege that the fraud was executed using forged banking instruments and fabricated financial records. Among the documents being examined are Fixed Deposit Receipts (FDRs), Real-Time Gross Settlement (RTGS) request letters, National Electronic Funds Transfer (NEFT) request forms, debit notes, bank correspondence and account statements.
Officials believe these documents were allegedly manipulated to facilitate unauthorised movement of government funds without attracting immediate attention. Forensic examination of banking records and document trails remains a key part of the ongoing investigation.
Shell Companies Allegedly Used to Route Funds
According to the investigating agencies, money allegedly diverted from government accounts was routed through multiple shell companies before reaching various commercial entities.
Investigators claim that the funds eventually reached jewellers, real estate businesses and other private firms through layered financial transactions designed to conceal the original source of the money.
The agencies are tracing each stage of the financial trail to identify ultimate beneficiaries as well as individuals and organisations that may have assisted in moving the funds. Officials believe the alleged use of shell companies added complexity to the financial transactions and made detection more difficult during the initial stages.
ED Conducting Parallel Money Laundering Investigation
Alongside the CBI investigation, the Enforcement Directorate is also carrying out an independent probe under the provisions of the Prevention of Money Laundering Act. The ED is focusing primarily on the movement of funds, identification of proceeds of crime and attachment of assets that may have been acquired using money allegedly diverted from government accounts.
Both agencies are working simultaneously, although each is investigating different legal aspects of the alleged financial irregularities. The parallel investigations are expected to provide a more comprehensive picture of the alleged conspiracy and the financial network involved.
Financial Records Continue to Be Examined
Investigators from both agencies are continuing to scrutinise banking transactions, departmental records, financial approvals, digital evidence and official documents connected with the case.
Officials are also examining the roles played by bank executives, intermediaries, private business entities and government officials to determine whether they knowingly participated in the alleged fraud. The agencies have indicated that additional questioning, searches and legal action may follow if fresh evidence emerges during the course of the investigation.
One of the Biggest Government Banking Fraud Cases Under Investigation
The alleged Rs 657 crore scam has emerged as one of the largest banking fraud investigations involving government department accounts in recent years. Given the number of senior officials under scrutiny, the scale of the alleged diversion of funds and the involvement of multiple investigative agencies, the case continues to attract significant attention across administrative and legal circles.
It is important to note that the investigation is still ongoing, and the allegations made by the CBI and the Enforcement Directorate have not yet been tested in a court of law. The searches conducted at the residence of IAS officer Saket Kumar form part of the continuing investigation, and no conclusions regarding criminal liability can be drawn until the legal process is completed. As investigators continue to analyse financial records and gather evidence, further developments in the case are expected in the coming weeks.
