5 verified cases involving Fund diversion, newest first.
A real estate director accused in a money laundering case involving alleged diversion of funds collected from homebuyers sought bail under the Prevention of Money Laundering Act. The Punjab and Haryana High Court granted regular bail, holding that prolonged pre-trial incarceration can justify bail despite the rigorous conditions under Section 45 PMLA.
CBI filed its first chargesheet in an alleged Rs 75.34-crore CREST fund diversion case in Chandigarh, naming 13 accused including IDFC First Bank officials and CREST staff. Further investigation is underway with additional chargesheets likely to follow.
The Enforcement Directorate has attached properties worth Rs 16.35 crore in connection with a cheating case involving the BHEL housing society. The case involves the alleged misappropriation of funds by society office bearers.
Legal proceedings are underway regarding alleged fund diversion at Jaypee Infratech. Former managing director Manoj Gaur has surrendered to Tihar Jail following the denial of regular bail, while a separate FIR has been registered against Suraksha and a partner company based on an Enforcement Directorate complaint.
CBI arrested IAS officer Pankaj Agarwal in connection with an alleged Rs 657-crore fraud involving IDFC First Bank. Chargesheets have been filed against five bankers, one CSCL official, and one private individual. The case involves suspected financial misconduct at multiple levels.