ED set to register case in IDFC First bank’s Rs 590 cr scam

Haryana police’s ACB and state vigilance department are already investigating the case, conducting raids to nab the other absconding suspects.

“The accused who are already in police custody are being interrogated for their links with other players involved in the scam. Special teams have been constituted and are in the process of conducting raids and collecting more information,” a senior Haryana police officer said.

Talking about jurisdictional issues, sources told The Indian Express, “The ED initiates investigations based on FIRs from other investigating agencies, complaints or intelligence and act as a specialised agency to enforce economic laws. In the current case, there is a strong indication that a group of bank officials in connivance with government officials and private entities, including real estate builders and businessmen not only committed misappropriation of the government funds deposited in the bank’s accounts, but also used these proceeds of crime to their private gains. The ED will unearth all such trails and ill-gained assets amassed by the accused using this misappropriated funds.”