A Panchkula court has granted default bail to Rajesh Sangwan, former Controller (Finance and Accounts) of the Haryana State Agriculture Marketing Board (HSAMB), in the Rs 645 crore bank scam case after the CBI failed to file a chargesheet within the statutory period.
The case involves the alleged siphoning of Haryana Government funds through the suspected collusion of officials from IDFC First Bank, AU Small Finance Bank, and government departments. The investigation was initially conducted by the State Vigilance and Anti-Corruption Bureau (SV&ACB) before being transferred to the CBI.
Sangwan, who was arrested on March 14 and first remanded on March 15, argued before the court that the 90-day statutory period prescribed under Section 167(2) of the CrPC, corresponding to Section 187 of the BNSS, had expired on June 12. He contended that no final report had been filed against him within the required timeframe.
The CBI opposed the plea, stating that investigations against Sangwan were still ongoing. However, the court observed that no final report had been filed against him and held that his statutory right to default bail had accrued.
The court noted, “Upon consideration of the custody period undergone by the applicant from the date of first remand and the admitted factual position that no final report had been filed against him till the filing of the present application, this Court is satisfied that the applicant has successfully established the accrual and exercise of the statutory right contemplated under Section 167(2) CrPC corresponding to Section 187 BNSS.”
It further observed, “On the contrary, the prosecution itself admits that further investigation against Rajesh Sangwan is continuing. Thus, the filing of the final report against certain co-accused and the supplementary final report against other accused persons cannot defeat the statutory right of the present applicant in respect of whom the investigation admittedly remains pending.”
According to SV&ACB findings, Sangwan was responsible for financial supervision and matters related to the opening and operation of HSAMB bank accounts. He was dismissed from service on April 30.
The investigation also linked him to a fraudulent transaction of Rs 10 crore carried out on January 14, 2026, through cheque No. 000006. The amount was transferred via 2 RTGS transactions worth Rs 9.75 crore and Rs 25 lakh to SRR Planning Gurus Pvt Ltd and Mannat Contractors, entities allegedly created by other accused persons in the case.
While granting bail, the court directed Sangwan to cooperate with the investigation, appear before the CBI whenever required, and mark his presence at the concerned CBI office every Monday and Friday between 11 am and 1 pm until the filing of the final report or further orders. The court also barred him from contacting or influencing witnesses, co-accused, public servants, or anyone connected to the investigation.
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