IDFC First Bank scam: CBI gets two-day remand of IAS Pardeep Kumar Dagar

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Panchkula, July 1

IAS officer Pardeep Kumar Dagar was produced before a court late at night after being arrested by the Central Bureau of Investigation (CBI) in connection with the alleged ₹504 crore IDFC First Bank scam involving Haryana government accounts. The court has granted the agency a two-day remand of the officer, during which he will be questioned regarding the alleged financial irregularities.

The CBI arrested Pardeep Kumar Dagar on the day of his retirement.  According to the CBI, Dagar, who was posted as Member Secretary of the Haryana State Pollution Control Board (HSPCB), was allegedly involved in the misappropriation of government funds maintained with IDFC First Bank in Chandigarh. The agency claimed that his actions resulted in a loss of approximately ₹169 crore to the Haryana government.

The CBI said Dagar personally handled investment-related work, and funds meant for fixed deposits were transferred to an IDFC First Bank account in excess of the prescribed limits.

“The investigation has revealed that the actions of Pardeep Kumar, as Member Secretary, had a direct nexus with the fraud. He himself handled the entire investment-related work at his level,” the CBI said in a statement.

The agency further alleged that an account was opened at the IDFC First Bank Sector 32 branch in Chandigarh without the required approvals, and that funds transferred to create fixed deposits were allegedly diverted through fraudulent transactions.

“The investigation conducted so far has revealed that no fixed deposits were created in this bank,” the CBI stated.

Earlier, the agency had arrested former IDFC First Bank area head Shamim Dar and former AU Small Finance Bank branch manager Charanjeet Singh Randhawa in the same case.

The CBI alleged that funds worth ₹504 crore belonging to eight Haryana government departments were siphoned off through forged and non-existent fixed deposits, debit notes, and transactions routed through shell entities.

The agency said that so far, 17 accused have been charge-sheeted in the case, including bank officials, Haryana government officials, companies, and private individuals.