Chandigarh, June 18 -- The Central Bureau of Investigation (CBI) has arrested senior Indian Forest Service (IFoS) officer Navneet Srivastava, the former chief executive officer (CEO) of the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST), in connection with the alleged misappropriation of around Rs.75 crore from the society's bank accounts maintained with IDFC Bank in Chandigarh.

Srivastava, who had been suspended by the Centre in April on the recommendation of the Chandigarh administrator, was produced before a special CBI court on Wednesday and sent to three days' police custody.

The case pertains to the alleged fraudulent diversion of funds from three accounts of CREST - a society functioning under the ...