Two Haryana officials arrested in ₹590 crore IDFC Bank scam

March 16, 2026

Chandigarh: The Haryana State Vigilance and Anti-Corruption Bureau has arrested two more accused in the ₹590 crore IDFC First Bank fraud case. The arrested accused include Rajesh Sangwan and Randhir Singh. Both were produced before a local court on Sunday, along with Chandigarh jeweler Rajan Katodia, who was remanded to four-day police custody.

Accused of fraud while holding a government position

Rajesh Sangwan is posted as Controller (Finance and Accounts) at the Haryana State Agricultural Marketing Board (HSAMB), while Randhir Singh holds the same position at the Haryana School Shiksha Pariyojna Parishad (HSSPP).

According to officials, the two allegedly violated the Haryana Finance Department’s directives and conspired with other accused to embezzle government funds. It is alleged that they also received a large sum of money as bribe for this work.

Jeweler’s role also under scrutiny

The investigation revealed that Sawan Jewellers received over ₹250 crore through companies linked to the main accused. Sawan Jewellers owner Rajan Katodia is accused of laundering the accused’s cash by showing it as gold sales in exchange for a hefty commission.

According to investigating agencies, Sawan Jewellers also received unauthorized funds from several companies, including Cap Co Fintech Services, SRR Planning Gurus Pvt Ltd, and Swastik Desh Project.

Attempts to reach the bottom of the conspiracy

The investigating agency had sought a five-day remand from the court to thoroughly interrogate the accused to unravel the entire sequence of events and the conspiracy behind the scam.

Officials say the accused will be interrogated face-to-face with the seized documents and digital evidence to unravel the connections between bank officials, private individuals, and government employees. The proceeds of crime will also be traced.

14 accused arrested so far

Fourteen people have been arrested so far in this case. The case was registered on February 23 under various sections of the Indian Nyaya Sanhita and the Prevention of Corruption Act.