States » NorthPosted at: Oct 5 2026 10:45AM


Fresh allegations of lavish parties and sexual favours emerge in Rs 657-cr bank fraud probe

Neeraj Bali
Chandigarh, Oct 5 (UNI) A Rs 75,000 payment allegedly made for sexual favours, demands for “fresh faces” at private parties and up to Rs 3 crore allegedly spent on lavish gatherings have emerged in the CBI investigation into the Rs 657-crore IDFC First Bank-AU Small Finance Bank fraud, opening a startling new trail in a case involving hundreds of crores of rupees in government funds.
Statements of three confidential female witnesses, identified in the CBI chargesheet as W-1, W-2 and W-3, detail alleged private parties, luxury stays and sexual favours purportedly extended to officials, bringing suspended Haryana IAS officer Pankaj Agarwal under sharper focus.
The identities of the three women have been withheld, with their details submitted in a sealed cover to the Special CBI Court in Panchkula.
The allegations have not been proved in court. Agarwal has denied wrongdoing and maintained that he neither demanded nor accepted any bribe.
W-1, described as the girlfriend of alleged mastermind and former IDFC First Bank manager Ribhav Rishi, told investigators that private dance parties were organised at Jade Manor in Zirakpur, where she was tasked with arranging the “best mujra girls”.
She alleged that Agarwal repeatedly pressed Rishi to organise more parties and sought “fresh faces”.
According to her statement, two groups of women attended the gatherings some performed dances while others allegedly spent private time with selected guests.
She further alleged that Agarwal discussed party arrangements over WhatsApp conference calls, including the number of women to be brought in.
W-1 told investigators that guests showered performers with newly issued currency notes and estimated that Rs 2.5 crore to Rs 3 crore was spent on such gatherings. She also alleged that Agarwal developed a preference for a particular performer and would specifically seek her presence.
Another confidential witness, W-2, gave investigators details of an alleged encounter involving a hotel suite.
She told the CBI that she was called to Chandigarh for Agarwal but missed her flight and was subsequently asked to travel by taxi.
A suite was booked at Hotel Wyndham in Mohali, she alleged. According to her statement, Naresh Kumar Bhuwani, a former superintendent in Haryana's Development and Panchayats Department, arranged for a guard to remain outside the room.
W-2 told investigators that she received Rs 75,000 for sexual favours.
W-3, a Zirakpur resident, told the CBI that she attended two such parties in November and December 2025 and received between Rs 10,000 and Rs 12,000 on each occasion.
According to the chargesheet, W-2 and W-3 later identified Agarwal after investigators showed them his photograph.
The witness accounts form part of a wider CBI investigation into the alleged diversion of public money through accounts maintained with IDFC First Bank and AU Small Finance Bank.
The Haryana case involves an alleged fraud of about Rs 504 crore. Related Chandigarh cases take the overall quantum under investigation to about Rs 657 crore.
The CBI has alleged that Agarwal facilitated the opening of accounts of the Haryana School Shiksha Pariyojana Parishad (HSSPP) and the Haryana State Agricultural Marketing Board (HSAMB) at an IDFC First Bank branch in collusion with bank officials. The agency has alleged that fraudulent transactions in the two accounts caused a net loss of Rs 60.54 crore to the government.
Rishi, formerly a manager at IDFC First Bank's Sector 32 branch in Chandigarh, has been accused by investigators of playing a central role in the alleged fraud.
The CBI has alleged that illegal benefits, including hospitality and parties, were extended to Agarwal as quid pro quo in connection with official decisions involving government accounts.
Agarwal has contested the allegations. His defence has maintained that he “has never demanded or accepted any bribe from anyone” and has disputed the CBI's case against him.
The allegations, documentary evidence and testimony of the confidential witnesses will ultimately be tested before the trial court.
UNI NB ATP ARN
Tags: #Fresh allegations of lavish parties and sexual favours emerge in Rs 657-cr bank fraud probe
More News

Major fire erupts at Tata Projects workers’ colony near Lucknow airport

06 Oct 2026 | 11:50 AM

Lucknow, Oct 6 (UNI) A major fire broke out at the Tata Projects workers' colony, located near the Laxman Chowk area, approximately 800 meters from the Choudhary Charan Singh International Airport, at around 6.55 am on Tuesday.
According to airport officials, upon receiving the information, the Airport Rescue and Fire Fighting (ARFF) team responded immediately and dispatched a Domestic Fire Tender (DFT) to the scene.

see more..

Punjab govt moves SC against HC-ordered CBI probe into graft allegations linked to Mann’s office

06 Oct 2026 | 11:17 AM

Neeraj Bali
Chandigarh, Oct 6 (UNI) The Punjab government on Tuesday moved the Supreme Court challenging a Punjab and Haryana High Court order directing the Central Bureau of Investigation (CBI) to register a criminal case and probe corruption allegations linked to the office of Chief Minister Bhagwant Mann.

see more..

Chirayu Ayushman health coverage; Families earning above Rs 1 8 lakh may enrol with annual Premium

06 Oct 2026 | 10:25 AM

Panchkula, Oct 6 (UNI) The Haryana government has expanded the Chirayu Ayushman Bharat Yojana, enabling families with annual incomes above Rs 1.8 lakh to access cashless hospital treatment up to Rs 5 lakh per family each year by paying a graded annual premium.

see more..

Rain, thunderstorms to lash Punjab, Haryana, Chandigarh; gusts may touch 60 kmph: IMD

06 Oct 2026 | 9:59 AM

Panchkula, Oct 6 (UNI) Punjab, Haryana and Chandigarh are set for a spell of rain and thunderstorms from Tuesday, with the India Meteorological Department (IMD) forecasting lightning and gusty winds that could touch 60 kmph at isolated places in the region.

see more..

FSSAI steps up food safety checks ahead of festive season

06 Oct 2026 | 9:42 AM

Panchkula, Oct 6 (UNI) Ahead of the festive season, the Food Safety and Standards Authority of India (FSSAI) has directed food safety authorities across the country to step up inspections and sampling.

see more..