New Delhi [India], July 24 (ANI): The Central Bureau of Investigation (CBI), in coordination with the Ministry of External Affairs (MEA) and the Ministry of Home Affairs (MHA), has successfully secured the deportation of Red Notice subject Avinash Arjun Rathod from the United Arab Emirates (UAE) to India on July 23.
According to a press release, Rathod is wanted in connection with a case involving a large-scale financial fraud. In criminal conspiracy with others, Rathod induced investors to invest in multiple schemes by falsely promising assured fixed monthly returns. He dishonestly misappropriated the funds and diverted the proceeds through multiple bank accounts and demat accounts. Earlier, a Red Notice was published against Rathod through INTERPOL.
Rathod arrived in Mumbai on July 23 and was taken into custody by the team of Maharashtra Police.
In a separate development, the CBI carried out searches at five locations in Chandigarh and Ludhiana on Thursday as part of its ongoing investigation into the alleged misappropriation of funds from IDFC First Bank accounts belonging to Chandigarh Smart City Limited (CSCL) and the Municipal Corporation of Chandigarh.
The searches covered residential premises, business establishments of suspected beneficiaries, the premises linked to CSCL official Anubhav Mishra, and other private entities connected with the investigation.
According to the agency, several incriminating documents and digital evidence, including storage drives, digital signatures, property-related documents, financial records and multiple electronic devices, were seized during the operation. The recovered material is being examined as part of the investigation.
The CBI had earlier taken over the case from the State Vigilance and Anti-Corruption Bureau, Haryana, following a request from the state government.
The case is linked to a larger banking fraud involving IDFC First Bank’s Sector-32 branch in Chandigarh, where government funds worth around Rs 504 crore belonging to eight Haryana government departments were allegedly siphoned off through forged or non-existent fixed deposits and fraudulent debit transactions before being routed through shell entities.
So far, the CBI has filed chargesheets against 17 accused in the Haryana case and has also chargesheeted multiple bank officials, public servants, private individuals and companies in related cases involving CSCL and the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST).
The agency said it remains committed to tracing the proceeds of crime and bringing all those involved in the alleged fraud to justice. (ANI)
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