The Central Bureau of Investigation (CBI) has arrested former Chief Executive Officer of the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) and Indian Forest Service (IFS) officer Srivastava in connection with an alleged ₹83-crore fund diversion case. The arrest follows an investigation into suspected financial irregularities involving funds earmarked for renewable energy and public-sector projects.
According to officials, the CBI took Srivastava into custody after its probe allegedly uncovered the diversion of CREST funds to shell companies and other entities. Investigators are examining financial transactions, contractual arrangements, and records linked to the alleged misuse of public money. Authorities have emphasized that the allegations remain under investigation and have not yet been tested in court.
CREST is responsible for promoting renewable energy, energy conservation, environmental initiatives, and science and technology projects in Chandigarh. The alleged irregularities reportedly came to light through audits, administrative reviews, and subsequent inquiries that raised concerns regarding financial management and project expenditure.
The agency alleges that funds may have been diverted through a network of shell firms and questionable transactions. Investigators are examining whether forged documents, fake invoices, inflated contracts, or unauthorized payments were used to facilitate the alleged diversion. Searches reportedly conducted at various locations led to the seizure of documents, digital devices, financial records, and other materials considered relevant to the investigation.
The case is understood to involve charges related to criminal conspiracy, cheating, forgery, breach of trust, corruption, and misuse of official position. Court proceedings relating to remand and further investigation are expected to continue in accordance with legal procedures.
CBI officials have not disclosed the full details of the evidence collected, while legal representatives for the accused have yet to present their response publicly. Governance experts and anti-corruption activists have described the case as significant, citing concerns about accountability in publicly funded institutions.
The investigation remains ongoing, and authorities have reiterated that any determination of guilt or responsibility will depend on judicial proceedings and the evidence presented before the courts.
Leave a Reply