CBI files chargesheet against 13 in CREST scam
On Tuesday, the Central Bureau of Investigation (CBI) filed a chargesheet in a special court in Chandigarh, naming 13 people accused of siphoning Rs 75.34 crore from the accounts of the Chandigarh Renewable Energy Science and Technical Promotion Society (CREST). This is an important step in the agency’s investigation into the large-scale diversion of Government funds meant for renewable energy projects in the Union Territory.
The chargesheet lists five officials from IDFC First Bank, two senior officials from CREST under the Chandigarh UT Administration, two shell companies, and four private individuals. All 13 are charged with criminal conspiracy, criminal breach of trust, cheating, forgery, destroying evidence, and offences under the Prevention of Corruption Act, 1988.
The CBI says that officials from IDFC First Bank worked with CREST public servants to divert money directly from the society’s bank accounts. The stolen funds were then sent through several channels to private individuals and companies who benefited. The agency called the scheme a carefully planned conspiracy involving both public servants and private individuals.
The present case pertains to the misappropriation of Government funds amounting to Rs 75.34 crore, siphoned off from CREST bank accounts by IDFC First Bank officials in criminal connivance with CREST public servants. The siphoned-off funds were then diverted in connivance with several private persons, who also benefited from these funds,” the CBI spokesperson said.
The agency has said this is not the final chargesheet in the case. Officials explained that more charge sheets will be filed as the investigation reveals more details of the conspiracy. This case is part of a larger CBI investigation into the alleged misappropriation of Rs 657 crore connected to projects in Chandigarh and Haryana. The agency registered three separate FIRs at the request of the Governments of Chandigarh UT and Haryana. The investigation examines several government schemes and projects in which public funds were allegedly diverted by bank officials, government employees, and private companies.
Before this, the CBI had already filed two charge sheets in Haryana-related cases, naming 17 accused. It also filed one chargesheet in the Chandigarh Smart City Project case against seven people. The latest chargesheet focuses on the diversion of CREST funds and brings the total number of accused in the three cases to 37 so far. The case has revealed major problems in the monitoring of Government accounts linked to renewable energy groups. As the investigation continues, more information about the flow of funds and the people who benefited is expected to come out in future charge sheets.
