CBI Files Chargesheet Against 13 in ₹75.34 Crore CREST Fund Siphoning Case

The Central Bureau of Investigation (CBI) on Tuesday filed a chargesheet against 13 individuals and entities in connection with the alleged siphoning of ₹75.34 crore in government funds from the accounts of the Chandigarh Renewable Energy Science and Technical Promotion Society (CREST).

The chargesheet, submitted before a special CBI court in Chandigarh, names five officials of IDFC First Bank, two CREST officials from the Chandigarh Union Territory Administration, two shell companies, and four private individuals as accused in the case.

According to the investigating agency, the accused have been charged under various provisions related to criminal conspiracy, criminal breach of trust, cheating, forgery, destruction of evidence, and offences under the Prevention of Corruption Act, 1988 .

In a statement, the CBI alleged that government funds were misappropriated through a conspiracy involving bank officials and public servants associated with CREST. Investigators claim that the funds were siphoned from CREST’s bank accounts and subsequently diverted through shell entities and private individuals who allegedly benefited from the transactions.

The agency said the case involves the unlawful diversion of ₹75.34 crore and forms part of a broader investigation into alleged financial irregularities amounting to ₹657 crore . The CBI had registered three separate FIRs following requests from the Chandigarh Administration and the Haryana government.

Officials said the probe remains ongoing and that additional chargesheets are expected to be filed as more evidence emerges.

The latest filing follows earlier chargesheets submitted by the agency in related cases. The CBI has already filed two chargesheets in Haryana-linked cases against 17 accused persons and one chargesheet related to the Chandigarh Smart City Project involving seven accused .

The investigation is focused on tracing the flow of public funds, identifying beneficiaries, and determining the extent of the alleged conspiracy involving government officials, banking personnel and private entities.