Mercedes, Harley and private diary: What Haryana Vigilance told court after arrest of ex-Kotak VP

“He used part of this money to purchase a Wrangler Rubicon, a Mercedes GLS, and a Harley-Davidson motorbike, which are currently parked in Delhi, which needed to be recovered with his assistance,” said an investigator.

The Special Investigation Team also informed the court, “Three mobile phones, a laptop, a printer, and stamps used to prepare fake FDs and related documents have been kept in Narkanda, Himachal Pradesh, and recovery is to be made on the pointing out of the accused.”

The Vigilance Bureau argued that Singh’s custody was necessary to interrogate him about possible similar frauds, to prevent further misuse of government funds, and to question him about his co-accused. “There is a need to recover bank documents, a private diary, and information regarding property purchased with the proceeds of the crime. For the investigation, it is essential to uncover the many layers of this complex financial fraud of large scale,” it said.

In this case, the Bureau registered an FIR against unnamed officials of Kotak Mahindra Bank on March 24 this year, following a report by the Panchkula Municipal Corporation of discrepancies amounting to nearly Rs 150 crore in its fixed deposit receipts.

Six people, including Dalip Kumar Raghav, a relationship manager at the Kotak Mahindra Bank, have been arrested in connection with the case so far.

The bank has already returned Rs 127 crore to the Municipal Corporation, whose funds were siphoned off in the alleged scam.

A Kotak Mahindra Bank spokesperson said earlier that they are “cooperating fully” with the Panchkula Municipal Corporation, government authorities and law enforcement agencies.

“Keeping with its governance standards and to ensure that the matter is examined independently and comprehensively, the bank has filed a formal complaint with the Panchkula Police.”