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Haryana power utility dismisses chief financial officer
UHBVN dismissed Amit Dewan, CFO and former director of finance at Haryana Power Generation Corporation Ltd, amid allegations of misusing his position to facilitate fraudulent banking transactions and siphon public funds. The case involves multiple banks, embezzlement schemes, and ongoing investigations now handed to the CBI, following his arrest by the ACB in March 2026.
Timeline
12 Events
Article published on the dismissal
May 5, 2026
The article reporting the dismissal was published on May 5, 2026.
Dismissal order issued by UHBVN
May 1, 2026
UHBVN issued the dismissal order on May 1, 2026, stating that Dewan’s conduct was prejudicial to the interests of HPGCL and the power utilities, and that investigation should not be duplicated with a parallel departmental inquiry due to ongoing CBI handover.
ACB arrests Amit Dewan
March 18, 2026
ACB arrested Amit Dewan on March 18, 2026, while he was posted at HPGCL.
FIR registered by Haryana ACB
February 23, 2026
The Haryana Anti-Corruption Bureau (ACB) registered a FIR on February 23, 2026, probing discrepancies involving fraudulent banking operations, forged transactions, and diversion of HPGCL funds through accounts at IDFC First Bank and AU Small Finance Bank.
₹50 lakh paid as illegal gratification
January 6, 2026
Call detail records indicate Amit Dewan was paid ₹50 lakh as illegal gratification on January 6, 2026.
HPGCL Pension Fund Trust account opened at AU Small Finance Bank, Ludhiana
June 2, 2025
HPGCL opened a Pension Fund Trust account at AU Small Finance Bank, Ludhiana, on June 2, 2025, which was later shifted to Sector 8, Panchkula.
Department letter dated March 28, 2025 authorizes FD conversion
March 28, 2025
A department letter dated March 28, 2025 authorized the conversion of the account to a fixed deposit under the relevant norms.
FD account creation with effect from March 20, 2025
March 20, 2025
The investigation notes indicate the Fixed Deposit (FD) account was created with effect from March 20, 2025, as part of the related arrangements.
₹50 crore credited to Dry Fly Ash Fund account
November 11, 2024
₹50 crore was credited to the Dry Fly Ash Fund account from another IndusInd Bank account on November 11, 2024.
IDFC First Bank empanelled for government banking
July 12, 2024
IDFC First Bank was empanelled as a government bank on July 12, 2024.
Dry Fly Ash Fund account opened at IDFC First Bank Sector-32 Chandigarh
February 27, 2024
HPGCL opened a Dry Fly Ash Fund account in IDFC First Bank, Sector-32, Chandigarh, on February 27, 2024.
Noting in the file moved to open the Dry Fly Ash Fund account
February 19, 2024
The noting in the file for opening a Dry Fly Ash Fund account was moved on February 19, 2024.