The Haryana State Vigilance and Anti-Corruption Bureau (ACB) on Saturday (March 14, 2026) arrested a jeweller in connection with the IDFC First Bank fraud case, with investigators finding that more than ₹250 crore had been routed to his firm from companies linked to the accused.
Rajan Katodia, owner of Sawan Jewellers, was arrested as part of the ongoing probe, and with this, the total number of arrests in the case has reached 12, an official statement issued in Panchkula said.
The case pertains to private lender IDFC First Bank, which had disclosed a ₹590 crore fraud involving certain employees and others at its Chandigarh branch in a set of accounts held by the Haryana government.
Investigations revealed that an amount exceeding ₹250 crore was received by Sawan Jewellers from various companies and firms linked to the accused, including Ribhav Rishi, Abhay Kumar, Abhishek Singla and Swati Singla.
The statement said the "funds had been transferred into these companies/firms from government accounts through illegal means".
