₹79-cr funds diversion case | Former Panchkula MC chief Ram Kumar Singh sent to 3-day CBI custody

Former Panchkula MC chief Ram Kumar Singh has been taken into CBI custody for three days in connection with a ₹79‑crore funds diversion case. The diversion is part of a larger ₹504‑crore scam that unfolded at the Sector 32 IDFC branch, where funds belonging to multiple Haryana government departments were allegedly siphoned off through forged fixed‑deposit documents and debit notes routed to shell entities. Singh was arrested at the CBI office in Chandigarh on the night of June 18. The larger scam involved the misuse of ₹504 crore from various state government accounts, with the money moved through fictitious fixed‑deposit records and debit notes that led to a network of shell companies. This ₹79‑crore portion represents a significant segment of the overall fraud, underscoring the scale of the financial irregularities. The CBI will keep Singh in custody for further investigation as the broader probe continues.

Source: Hindustan Times