The Haryana government on Monday dismissed Amit Dewan, the chief financial officer (CFO) of Haryana Power Generation Corporation Limited, over his alleged role in a Rs 590-crore scam involving fund diversion through IDFC First Bank and AU Small Finance Bank. Dewan was arrested on March 18 by the State Vigilance and Anti-Corruption Bureau.
The dismissal order, issued by UHBVNL on May 1, cites grave corruption charges linked to alleged irregularities in banking operations involving Haryana Power Generation Corporation Limited. The case pertains to discrepancies such as forged transactions and the systematic diversion of funds from HPGCL into shell entities through bank accounts maintained with IDFC First Bank and AU Small Finance Bank.
According to officials, Dewan is the 15th person to be arrested in connection with the large-scale financial scam, which allegedly involved the siphoning off government funds using fake accounts and fraudulent financial practices. Following his arrest, he was suspended from service before being formally dismissed after departmental proceedings.
Dewan is a senior finance professional with over 27 years of experience in Haryana’s power utilities. He had previously served as Director (Finance) at HPGCL, the position he held during the period when the alleged fraud took place. He was on deputation from UHBVNL at the time and was later repatriated and appointed as CFO of UHBVNL.
Authorities have since transferred the investigation to the Central Bureau of Investigation (CBI) for a more comprehensive probe, given the scale and complexity of the case. Officials said the move aims to uncover the full extent of the financial irregularities and identify all those involved in the scam.
The dismissal underscores the government’s intent to take strict action against corruption and financial misconduct within public sector undertakings. Further investigations are ongoing and more arrests or disciplinary measures are expected as agencies continue to examine the financial trail and accountability in the case.
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Published By:
Ritaban Misra
Published On:
May 4, 2026 14:49 IST
