Punjab and Haryana HC Questions UT Administration's Authority to Release Frozen Accounts in IDFC Fraud Case
The Punjab and Haryana High Court has questioned the Chandigarh Union Territory Administration regarding its legal authority to issue a letter seeking the release of frozen bank accounts. This action occurred after the Central Bureau of Investigation (CBI) had already taken over the investigation into a multi-crore fraud case involving IDFC First Bank. The court heard a writ petition filed by IDFC First Bank, which alleged it was a victim of large-scale financial fraud involving misappropriation from government department accounts in Haryana and Chandigarh. The bench, comprising Chief Justice Sheel Nagu and Justice Sanjiv Berry, emphasized that since the investigation was transferred to the CBI on April 27, 2026, the UT Administration lacked jurisdiction to intervene via correspondence dated May 2, 2026. The bank sought directions to prevent the dissipation of funds linked to the fraud through the Indian Cyber Crime Coordination Centre. The court has asked the UT Administration to explain the legal basis for its actions and listed the matter for further hearing on May 14, 2026.
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Punjab and Haryana HC Questions UT Administration's Authority to Release Frozen Accounts in IDFC Fraud Case
The Punjab and Haryana High Court has questioned the Chandigarh Union Territory Administration regarding its legal authority to issue a letter seeking the release of frozen bank accounts. This action occurred after the Central Bureau of Investigation (CBI) had already taken over the investigation into a multi-crore fraud case involving IDFC First Bank. The court heard a writ petition filed by IDFC First Bank, which alleged it was a victim of large-scale financial fraud involving misappropriation from government department accounts in Haryana and Chandigarh. The bench, comprising Chief Justice Sheel Nagu and Justice Sanjiv Berry, emphasized that since the investigation was transferred to the CBI on April 27, 2026, the UT Administration lacked jurisdiction to intervene via correspondence dated May 2, 2026. The bank sought directions to prevent the dissipation of funds linked to the fraud through the Indian Cyber Crime Coordination Centre. The court has asked the UT Administration to explain the legal basis for its actions and listed the matter for further hearing on May 14, 2026.
The Indian Express