On Wednesday, authorities announced that Navneet Srivastava, a senior officer in the Indian Forest Service, had been arrested by the CBI. Srivastava is being held on suspicion of embezzling funds from the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) from an account at IDFC First Bank while he was the organization’s chief executive officer. According to a statement from the CBI, Srivastava was brought before the special judge at the CBI headquarters in Chandigarh and ordered to remain in police custody for a period of three days.As his involvement became clear throughout the course of the investigation, he was subsequently arrested. According to the spokesperson, an investigation has shown that while he was in charge, the beneficiaries embezzled money from three CREST bank accounts held at IDFC First Bank in Chandigarh, transferred it to different shell companies, and then used it for their own benefit. As a result, CREST lost around 75 crore rupees.
In a statement, the CBI revealed that a portion of the illicit funds were transferred to a private company that is controlled by Srivastava’s wife and another close relative.”As you may remember, Accountant Sahil Kukkar of CREST and Former Project Director Sukhwinder Singh Abrol are currently in judicial custody after being arrested earlier in this case and having already been charge-sheeted,” it stated.
Image: The Indian Express
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