The Haryana government on Monday dismissed Amit Dewan, the chief financial officer of Haryana Power Generation Corporation Limited, over his alleged involvement in a Rs 590-crore financial scam linked to fund diversion through IDFC First Bank and AU Small Finance Bank.
Dewan, who was arrested on March 18 by the State Vigilance and Anti-Corruption Bureau, was removed from service through an order issued by Uttar Haryana Bijli Vitran Nigam on May 1. The order cited serious corruption charges arising from alleged irregular banking transactions involving HPGCL.
Investigators have alleged that funds were systematically siphoned off from HPGCL accounts into shell entities using forged transactions and fraudulent financial mechanisms routed through accounts in the two banks. Officials stated that the case involves the diversion of large sums of government money through fake accounts and manipulated financial records.
Dewan is reported to be the 15th individual arrested in connection with the case, which is being treated as a major financial fraud. Following his arrest, he was suspended before departmental proceedings led to his formal dismissal from service.
A senior finance professional with over 27 years of experience in Haryana’s power sector, Dewan had previously served as Director (Finance) at HPGCL during the period when the alleged irregularities occurred. At the time of his arrest, he was serving on deputation and was later repatriated before being appointed CFO at UHBVNL.
Given the scale and complexity of the alleged scam, the investigation has now been handed over to the Central Bureau of Investigation for a detailed probe. Authorities indicated that the objective is to trace the complete financial trail and identify all individuals involved in the diversion of funds.
The dismissal is being seen as part of a broader effort by the state government to enforce accountability and take strict action against corruption within public sector undertakings, with further arrests and disciplinary steps likely as the investigation progresses.
