Haryana has dismissed a Development and Panchayat Department superintendent, Naresh Bhuwani, linked to a reported Rs 590 crore IDFC First Bank fraud. The state alleges a criminal conspiracy behind fraudulent banking transactions, with government money transferred to shell companies. The action signals tightening scrutiny of public funds and financial controls as investigations continue.
The Enforcement Directorate has alleged more than ₹11,600 crore as proceeds of crime in a money laundering probe involving Reliance Home Finance and Reliance Commercial Finance. The agency claims public funds were diverted through shell entities and that nearly 90% of corporate loans were routed to such companies. ED also arrested key functionaries Amitabh Jhunjhunwala and Amit Bapna for questioning.
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