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HPGCL corruption: UHBVN dismisses former finance director Amit Dewan
UHBVN dismissed Amit Dewan, CFO and former director of finance at HPGCL, alleging misuse of his official position. The dismissal follows an ACB investigation that led to a CBI handover, with details of fraudulent banking operations, forged transactions, and diversion of funds through accounts at IDFC First Bank and AU Small Finance Bank. The case involves arrests, ongoing probes, and multiple bank accounts linked to the scheme.
Why It Matters
The case highlights governance and accountability concerns in state-controlled power utilities and shows how alleged financial wrongdoing can involve multiple banks and formal investigations by anti-corruption agencies.
Timeline
11 Events
UHBVN dismisses Amit Dewan
May 1, 2026
UHBVN issued a dismissal order on May 1, 2026, dismissing Amit Dewan from his post as CFO and former director, finance. The order states that the investigation will be handed over to the CBI to avoid impact from a parallel departmental inquiry, and notes this dismissal as the fourth such action in about 10 days.
ACB arrests Amit Dewan
March 18, 2026
The Haryana Anti-Corruption Bureau arrested Amit Dewan on March 18, 2026, while he was posted at HPGCL.
32 transactions observed in accounts
March 9, 2026
Investigation records show 32 transactions in the IDFC First Bank and AU Small Finance Bank accounts, including eight fraudulent transactions, up to March 9, 2026.
FIR registered against Dewan
February 23, 2026
A FIR was registered on February 23, 2026, probing discrepancies including 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
Witnesses indicate Amit Dewan was paid ₹50 lakh as illegal gratification, evidenced by call detail records and investigation materials.
HPGCL Pension Fund Trust account opened at AU Small Finance Bank, Ludhiana
June 2, 2025
A HPGCL Pension Fund Trust account was opened in AU Small Finance Bank, Ludhiana on June 2, 2025, later moved to Sector 8 Panchkula.
Department letter for FD conversion
March 28, 2025
A department letter dated March 28, 2025 authorized converting the savings account into a fixed deposit (FD) account, as referenced in the dismissal order.
FD account creation entry for IDFC First Bank account
March 20, 2025
The fixed deposit (FD) account creation entry for the IDFC First Bank arrangement shows an effective date of March 20, 2025, though the account was opened as a savings account with later FD intent.
₹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 as government bank
July 12, 2024
IDFC First Bank was empanelled later in 2024, after the Dry Fly Ash Fund account was opened.
Dry Fly Ash Fund account opened at IDFC First Bank Sector-32 Chandigarh
February 27, 2024
The dismissal order notes that a Dry Fly Ash Fund savings account was opened in IDFC First Bank’s Sector-32 Chandigarh branch on February 27, 2024.