Full Breakdown
IAS Officer Pankaj Agarwal Accused in IDFC First Bank Fraud Gratification Scheme
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Core Allegations and Event Details
The Central Bureau of Investigation (CBI) has filed a supplementary charge sheet alleging that Haryana IAS officer Pankaj Agarwal received “illegal gratification” in the form of dance parties, sexual favours and cash payments. The scheme involved three women—W-1, W-2 and W-3—who arranged venues, performers and hotel rooms.
- Dance parties were held at the Jade Manor farmhouse in Zirakpur on nine occasions between 25 July 2025 and 16 January 2026.
- Additional gatherings occurred at Novotel on 24 December 2025 and at Hotel Wyndham, Mohali on 10 January 2026.
- Cash notes of Rs 15 lakh–Rs 20 lakh were reportedly showered on performers at each party, with total spending estimated at Rs 2.5 crore–Rs 3 crore.
- Payments to the women included Rs 75,000 to W-2 and Rs 10,000–Rs 12,000 per appearance to W-3.
Phone-call records, Uber logs and hotel bookings are cited as evidence that Agarwal attended the parties on 1 Nov 2025, 9 Nov 2025, 13 Dec 2025 and 16 Jan 2026.
Background of the IDFC First Bank Fraud
The gratification is linked to a larger fraud involving the IDFC First Bank-AU Small Finance Bank partnership. The CBI alleges that public money deposited by Haryana bodies was siphoned off through fraudulent debits. Two figures appear in the charge sheet: Rs 657 crore and Rs 645 crore.
The CBI calculates a net loss of Rs 50.54 crore to the Haryana School Shiksha Pariyojana Parishad (HSSPP) from 101 fraudulent debits and alleges that over Rs 60 crore was diverted through accounts opened by Agarwal.
Data and Financial Figures
- Total alleged fraud: Rs 657 crore vs Rs 645 crore.
- Public funds siphoned: Over Rs 60 crore.
- Loss to HSSPP: Rs 50.54 crore.
- Cash spent on parties: Rs 2.5 crore–Rs 3 crore.
- Payments to women: Rs 75,000 to W-2; Rs 10,000–Rs 12,000 per appearance to W-3; Rs 40,000 UPI to farmhouse manager.
Official Statements & Responses
- Vishal Garg, counsel for Agarwal, told ThePrint the allegations are “baseless” and that no money was recovered from Agarwal’s residence during searches.
- The CBI maintains that the gratification was “almost wholly in cash” and that the money originated from the siphoned government funds, later converted into gold and back.
- The charge sheet invokes Section 79 of the Bharatiya Nyaya Sanhita and multiple provisions of the Prevention of Corruption Act against Agarwal. A sanction under Section 19 of the PC Act is still pending.