Panchkula Bank Fraud: IAS Officer Ram Kumar Singh Sent to Judicial Custody Over Rs 79 Crore Scam
A local court in Panchkula on Monday remanded former municipal corporation commissioner Ram Kumar Singh in judicial custody in connection with an alleged fraud of Rs 79.46 crore linked to the larger Rs 590-crore IDFC First Bank scam. The Central Bureau of Investigation (CBI) told the court that Singh, an IAS officer of the Haryana cadre, did not cooperate with the probe and that certain digital evidence and proceeds of crime were yet to be recovered.
Singh and former development and panchayats department superintendent Prince Sharma were produced before Additional Sessions Judge-cum-Vacation Judge Amit Sharma after the expiry of their three-day remand. Singh was arrested on June 18 on allegations of misappropriating government funds from the Panchkula civic body’s account maintained at the IDFC First Bank branch in Sector 32, Chandigarh.
During the custodial interrogation, the CBI confronted Singh with digital and documentary evidence related to the alleged diversion of funds, including the opening of an IDFC First Bank account, fixed deposit transactions, communications with co-accused persons, and routing of money through shell entities. The agency sought 14-day judicial custody, citing that the investigation had revealed the IAS officer’s role in the fraud during his tenure as municipal corporation commissioner and commissioner of the Kalka municipal council.
The CBI’s application detailed that investigators questioned Singh about opening a new account, calling quotations for fixed deposits, SMS alerts on registered mobile numbers, steps taken after learning of fraudulent transactions, and account statements. The agency claimed digital evidence indicated that money was delivered by carriers and sought explanations on where the allegedly ill-gotten funds were parked. Both accused were questioned about communications with co-accused and deletion of data from their mobile devices.
They were also confronted about handing over cheques to other co-accused to siphon funds, when they became aware of the fraud, and whether they received any advantages in return for favours. The CBI sought details of other bank officials, government functionaries, and private individuals who may have facilitated the alleged fraud.
The agency described the matter as a “large-scale, multi-layered fraud by way of fraudulent banking operations and fictitious transactions to divert government funds in shell entities in connivance with public servants.” It informed the court that unauthorised transactions in bank accounts opened by various Haryana government departments had been identified, and the role of other accused, including public servants, was under investigation. The CBI said it was scrutinising documents recovered during searches at the residences of Singh and Sharma, and that the trail of misappropriated funds was still being traced.
