Navneet Srivastava ex-Crest CEO held in nearly ₹75cr CBI probe
Navneet Srivastava, a senior Indian Forest Service (IFoS) officer and former chief executive officer (CEO) of the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST), has been sent to judicial custody until July 3 after completion of CBI custody after being arrested in a major fund diversion case.
The CBI says nearly ₹75 crore was siphoned off through unauthorized transactions into shell companies from CREST accounts.
Family linked firm, 2 arrested
Some of the diverted money reportedly ended up with a private company in which Srivastava's wife and a close relative were directors.
Two other CREST officials, former CREST project director Sukhwinder Singh Abrol and accountant Sahil Kukkar, were also arrested earlier and remain in judicial custody.
The investigation is still underway as the CBI digs deeper into the case.