The CBI had earlier arrested former CREST Project Director Sukhwinder Singh Abrol and accountant Sahil Kukkar in the case. (File image)A day after filing its first chargesheet in the alleged misappropriation of Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) funds, the Central Bureau of Investigation (CBI) on Wednesday arrested senior Indian Forest Service officer Navneet Srivastava, who was serving as Chief Executive Officer of CREST when the alleged fraud took place.Srivastava was produced before a Special CBI Court in Chandigarh, which remanded him to three days of CBI custody.The arrest comes in connection with the alleged siphoning of funds from three CREST accounts maintained with IDFC Bank in Chandigarh. According to the CBI, the funds were fraudulently transferred to various shell companies and subsequently diverted for personal use by beneficiaries, causing a loss of around Rs 75 crore to CREST during Srivastava’s tenure as CEO.The agency said Srivastava’s role emerged during the course of the investigation. It further alleged that a portion of the proceeds of crime was routed to the account of a private company in which Srivastava’s wife and a close relative were directors.The allegations are being investigated as part of what the CBI described as a larger conspiracy involving public servants, bank officials and private entities.The CBI had earlier arrested former CREST Project Director Sukhwinder Singh Abrol and accountant Sahil Kukkar in the case. Both have been chargesheeted and are currently in judicial custody.The case relates to alleged irregularities in the handling of CREST funds deposited with IDFC Bank. The matter was initially investigated by the Economic Offences Wing of the Chandigarh Police before being transferred to the CBI.Story continues below this adOn Tuesday, the agency filed its first chargesheet before the Special CBI Court against 13 accused persons. Those named include five officials of the private bank, two public servants associated with CREST, two shell entities along with three of their partners or directors, and one private individual.According to the chargesheet, the accused entered into a criminal conspiracy to siphon off public funds through unauthorised transactions and diversion of money to shell companies.The alleged fraud came to light after discrepancies were detected in CREST’s bank accounts, triggering an investigation into the movement of funds and the role of officials responsible for overseeing the finances.CBI officials said further investigation is underway to trace the money trail, identify additional beneficiaries and ascertain the role of other persons involved in the alleged diversion of funds.Story continues below this adThe agency is also examining financial transactions linked to companies that allegedly received the diverted funds and the manner in which the money was subsequently utilised.Jagpreet Singh Sandhu is a Senior Correspondent at The Indian Express, based in Chandigarh. He is a veteran reporter with over a decade of experience, specializing in legal, crime, and environmental reporting across the tri-city area (Chandigarh, Mohali, and Panchkula). Professional Background Core Beat: He primarily covers the Punjab and Haryana High Court, District Courts, CBI Courts, and Consumer Commissions. His legal reporting is known for breaking down complex judgments and tracking long-standing criminal cases. Environmental Reporting: Jagpreet has become a key voice in reporting on the deteriorating air quality and weather patterns in the Punjab-Haryana region. Crime & Technology: He frequently reports on cybercrime, digital arrest scams, and the intersection of technology and law enforcement, such as the development of citizen-centric policing apps. Recent Notable Articles (Late 2025) His late 2025 coverage has focused on significant judicial verdicts, major financial scams, and public health concerns: 1. Legal & CBI Court Verdicts "12 years on, CBI court acquits Haryana judge, parents in wife’s death case" (Dec 17, 2025): Detailed coverage of the acquittal of a judicial officer in a high-profile dowry death case from 2013. "‘Wicked & evil mind’: Court gives man 30-year term for kidnapping, sexually assaulting 8-year-old" (Dec 16, 2025): A report on a stern judgment from a Chandigarh district court in a POCSO case. "Man acquitted in rape case after victim found ‘very happy’ in wedding reception" (Dec 9, 2025): Covering a unique legal observation regarding consensual relationships and age verification. 2. Investigative & Scams "CBI registers FIR in Rs 1.14-cr Patient Welfare Grant scam at PGIMER" (Dec 19, 2025): An exposé on how funds meant for poor patients were siphoned off through forged documents and a photocopy shop inside the PGIMER campus. "Month-long torture, Rs 85 lakh transfers: How ‘Innocence Certificate’ led to a ‘digital arrest’ of an elderly couple" (Dec 12, 2025): Detailing a sophisticated cyber fraud targeting senior citizens in Chandigarh. 3. Environment & Public Safety "Panchkula air turns ‘very poor’, fourth worst in country" (Dec 22, 2025): Reporting on the sudden spike in pollution levels in Panchkula compared to neighbouring cities. "Soon, you can snap that overspeeding car, and report to Chandigarh Police" (Dec 16, 2025): Breaking news on a new mobile application being developed to allow citizens to report traffic violations via geo-tagged photos. 4. Gangster Culture & Crime "City Beautiful in the crosshairs of gangsters" (Dec 14, 2025): A feature analysis of how Chandigarh has increasingly become a staging ground for extortion and rivalries between gangster modules. "Shooters wanted for Parry murder held by Delhi Police Special Cell" (Dec 18, 2025): Following the developments in a high-profile murder case in Chandigarh’s Sector 26. Signature Style Jagpreet is recognized for his tenacious follow-up on cold cases and his ability to report on courtroom drama with a focus on victim rights. His work often highlights administrative lapses, whether in the handling of patient welfare funds or the enforcement of environmental standards. ... Read MoreStay updated with the latest - Click here to follow us on InstagramTags:CBI