Rs 80 lakh of diverted CREST funds used to buy Goa property: CBI

A company connected to Navneet Kumar Srivastava, a former CEO of the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST), allegedly misused Rs 80 lakh out of Rs 95 lakh funds diverted from CREST to purchase property in Goa, according to a recent chargesheet filed by the Central Bureau of Investigation (CBI) before a Special CBI court in Chandigarh on September 11.

The CBI alleged that Anupam Srivastava, Srivastava's wife and a director of Vipam Consultancy Pvt Ltd, received bribes on behalf of her husband, constituting an offence under the Prevention of Corruption Act, 1988. The chargesheet claimed that Vipam Consultancy had no genuine business dealings with CREST and that the company received the diverted funds from CAPCO Fintech Services without any legitimate reason.

The money was later used to buy property in Goa and transferred to Anupam Srivastava's personal account. Srivastava is accused of deleting WhatsApp messages and destroying his mobile phone containing evidence related to the alleged offences. Further investigation revealed that the family knowingly participated in diverting and hiding CREST funds for personal financial gain.