Panchkula, March 7: The investigation into a massive ₹590-crore banking fraud in Haryana has intensified after authorities uncovered an extensive network of shell companies and hundreds of linked bank accounts allegedly used to divert public funds.

Officials from the state’s Vigilance and Anti-Corruption Bureau (ACB) say the case—already considered one of the largest alleged financial scams in the state—has expanded significantly as investigators trace complex financial transactions involving multiple individuals, private businesses, and public officials.

Multi-Layered Financial Network Under Scanner

According to investigators, the suspected fraud involved a sophisticated structure designed to move funds through several layers of financial transactions. Authorities initially identified a company named Swastik Desh Project during the early stages of the investigation.

Further examination has revealed additional firms believed to be connected to the accused, including Swastik, Cap Co Fintech, and SRR Planning.

Officials say bank accounts linked to these entities formed the “first layer” of financial activity. Beyond that, investigators are now examining hundreds of additional accounts that appear to form a second layer of transactions.

The ACB suspects these accounts were used to conduct fabricated financial transfers, enabling the movement of government funds through intermediary accounts before being routed to companies allegedly controlled by the accused.

Each transaction trail is currently being analyzed individually as investigators attempt to determine how the funds moved through the system and identify the final beneficiaries.

Several Accused Taken Into Custody

As the probe progressed, authorities detained multiple individuals suspected of involvement in the alleged scheme.

Businessman Abhishek Singla and his sister Swati Singla, reported to hold full ownership of the company Swastik, were recently sent to judicial custody following the completion of a seven-day police remand granted to the ACB.

Four other individuals were previously arrested and were scheduled to appear before a court in Panchkula after the end of their remand period. They include:

• Ribhav Rishi, a former bank branch head
• Abhay Kumar, former relationship manager at IDFC First Bank’s Sector 32 branch in Chandigarh and husband of Swati Singla
• Naresh Kumar Bhuwani, superintendent in the office of the Director, Development and Panchayat
• Manish Jindal, who investigators say handled financial transactions linked to certain Haryana administrative officials

Investigators are currently examining the specific role played by each of the accused in the suspected fraud.

Digital Records and Government Documents Being Examined

Authorities say the investigation continues to expand as new evidence emerges. Financial records collected so far include bank statements, digital transaction logs, and other documents that could help reconstruct the alleged flow of funds.

The ACB has also obtained official records from nine Haryana government departments, which are now being analyzed alongside the financial data.

In addition, investigators have secured partial access to call records and email data associated with the bank accounts under scrutiny. Remaining records are expected soon.

Officials plan to confront the accused with details related to mobile numbers and email accounts used for transaction alerts, debit notifications, and bank communications.

Investigation Still Ongoing

According to officials, the accused have so far provided responses that investigators describe as incomplete or evasive during questioning. Given the scale of the financial records and electronic data involved, authorities say further custodial interrogation may be necessary.

Investigators aim to establish the complete chain of transactions and determine the ultimate use of the diverted funds as the probe into the ₹590-crore banking fraud continues.

HARIDWAR, Uttarakhand — Officials from the Dehradun-based Vigilance Department have arrested Haridwar District Supply Officer Shyam Arya and two other employees on charges of accepting a bribe of ₹50,000, authorities confirmed. The arrests took place during a planned operation after investigators laid a trap at the District Supply Office in response to repeated complaints from the public.

According to vigilance sources, the accused were caught “red-handed” while receiving the alleged bribe, reportedly demanded in exchange for official services within the department. The operation, coordinated from the state capital of Dehradun, underscores the department’s commitment to tackling corruption.

Complaints That Triggered the Operation
The arrests followed months of complaints alleging that officials at the Haridwar District Supply Office were routinely soliciting illegal payments for government services. These included the issuance of ration cards, approvals for licenses, and other administrative clearances under the public distribution system.

Vigilance officials said preliminary verification of the complaints indicated a recurring pattern rather than isolated incidents. Following this assessment, the department used a standard anti-corruption tactic of laying a trap to obtain direct evidence of bribe solicitation and acceptance.

Inside the Supply Office
After the arrests, vigilance teams established a presence inside the office, sealing parts of the premises while examining files and records. Investigators are reviewing documentation related to recent approvals and transactions to determine whether the alleged bribery was systemic.

The accused are also being questioned to identify potential accomplices and to ascertain whether accepting bribes was a routine practice. Officials noted that the investigation could expand depending on findings from the document review and interrogations.

A Broader Anti-Corruption Push
The case has drawn attention across Uttarakhand’s administrative machinery, particularly within the Supply Department, which plays a vital role in delivering welfare services. Vigilance officials said the arrests reflect a “zero-tolerance” approach toward corruption and warned that similar operations will continue wherever credible complaints arise.

The state’s anti-corruption drives have intensified in recent months, emphasizing both deterrence and accountability. While the investigation in Haridwar remains in its early stages, officials say it highlights the risks faced by public servants accused of exploiting their positions and the growing willingness of enforcement agencies to act on citizen complaints.

A roadside trap near Gandhinagar led to the arrest of two law enforcement officers allegedly involved in a ₹30 lakh bribery scheme, highlighting concerns over corruption within police ranks.

A Trap on a Quiet Road

The Gujarat Anti-Corruption Bureau (ACB) set up the operation following a complaint from a party involved in an ongoing call-centre investigation. Constable Vipul Desai was caught red-handed while accepting the cash, with his superior, Inspector Petha Patel, arrested shortly thereafter. The exchange reportedly occurred near Swagat City Mall in Sargasan, a site linked to the Hari Group.

Officials stated that the officers allegedly demanded the bribe as a quid pro quo to avoid legal action against the complainant.

Allegations Against the Investigators

Both officers serve in the Gandhinagar-based CID Crime unit, typically responsible for sensitive and complex investigations. The ACB confirmed that procedural verification of the complaint preceded the trap, a standard method in corruption cases to establish demand and acceptance of illegal gratification.

Custody, Court, and Legal Proceedings

The arrested officers are scheduled to be produced in court, where the ACB will seek their remand for further interrogation. Investigators aim to uncover the precise method of solicitation, potential intermediaries, and whether similar bribe demands were made in prior cases.

Scrutiny Beyond the Cash Exchange

Authorities have indicated that the probe will extend to examining the officers’ assets and property, a step often used to determine whether the misconduct is isolated or part of a larger pattern of corruption. The ACB’s investigation may shed light on systemic vulnerabilities within enforcement agencies tasked with upholding the law.