SHAKEEL AKHTER
Ranchi, Feb 27: The Central Bureau of Investigation (CBI) has agreed to investigate the fraudulent withdrawal of ₹100 crore from the Electricity Board’s accounts. This was disclosed through an affidavit filed during the hearing of a petition submitted by Canara Bank, which sought a CBI probe into the matter.
The Jharkhand Criminal Investigation Department (CID) has already investigated the fraud and arrested Amarjeet Kumar, the then manager of Canara Bank’s NIFT branch. Canara Bank has also formally written to the CBI headquarters requesting an independent investigation.
Petition Cites RBI and Central Government Guidelines
It is worth noting that in 2025, Sujit Kumar Sahu, Circle Head of Canara Bank, filed a petition before the High Court seeking a CBI inquiry into the ₹100 crore fraud. The bank relied on guidelines issued by the Central Government and the Reserve Bank of India, which mandate a CBI investigation in cases involving bank fraud exceeding ₹3 crore.
The CBI has been named as a respondent in the petition. During the hearing, the court issued a notice to the agency, directing it to present its position. In response, the CBI filed an affidavit stating that it is willing to investigate the matter, subject to the court’s direction.
CID Investigation, Arrests and Charge Sheet Filed
The Jharkhand State Electricity Employees Master Trust, which manages pension funds for Electricity Board employees, has also been named as a respondent in the petition. The case remains pending before the High Court.
The fraud came to light in 2024, when a fake account was allegedly opened in the name of the Jharkhand Tourism Development Corporation (JTDC) to facilitate the illegal withdrawal. Subsequently, further fraudulent transactions were carried out through accounts opened in the names of government entities.
Following the discovery of the fraud, the Jharkhand State Electricity Employees Master Trust lodged FIR No. 42/2024. The CID subsequently took over the investigation.
During the course of its inquiry, the CID froze ₹46 crore and arrested six individuals, including the then Canara Bank manager. Those arrested include former JTDC accountant Giriraj Prasad, Rudra Singh, Lokesh Sah, and others. The CID has since filed a charge sheet, alleging the involvement and complicity of bank officials in the fraud.
ED Registers ECIR, Parallel Probe Underway
Meanwhile, the Enforcement Directorate (ED) has also registered an ECIR in connection with the ₹100 crore fraudulent withdrawal and has initiated a parallel investigation.