Amit Dewan Granted Bail in ₹Hundreds-Crore Fraud

Authority: High Court of Punjab and Haryana at Chandigarh

Order Date: 12 June 2026

Case Overview

• Petitioner: Amit Dewan, former Director (Finance) of Haryana Power Generation Corporation Ltd (HPGCL).
• Respondent: Central Bureau of Investigation (CBI).
• Two FIRs: RC2212026E0005 (originally FIR No.04 dated 23‑02‑2026, re‑registered 08‑04‑2026) and RC2212026E0009 (originally FIR No.03 dated 12‑03‑2026, re‑registered 04‑05‑2026).
• Allegations: Unauthorized opening and operation of accounts with IDFC First Bank and AU Small Finance Bank (and with CREST), transfer of public funds, fraudulent withdrawals, alleged diversion of several hundred crore rupees.
• Arrest: 18‑03‑2026; petitioner remained in custody.
• Investigation: FIR 5 investigation completed, challan filed; FIR 9 investigation ongoing. No money trail, recovery, or asset identified linking petitioner to proceeds.

Final Outcome

• The Court granted regular bail to Amit Dewan in both FIRs, subject to furnishing bail and surety bonds to the trial court/duty magistrate.
• The order expressly states it does not express any opinion on the merits of the fraud allegations.

Topics: Bail; Financial Fraud