Chandigarh, March 24 -- A local court has granted police a seven-day remand of three former employees of IDFC First Bank in connection with a fraud case. The police said the custodial interrogation is crucial to unravel the money trail and the larger conspiracy behind the diversion of public funds to the tune of over Rs.590 crore.

Investigators said the trio - Ribhav Rishi, former branch manager of IDFC First Bank, Sector 32; Abhay Kumar; and Seema Dhiman - are suspected to have played a key role in facilitating unauthorised transactions involving government accounts. Abhay and Seema are also former employees of the same branch.

Officials alleged that the accused acted in connivance with arrested real estate developer Vikram Wadhwa and ...