Panchkula, March 15 -- The Haryana state vigilance and anti-corruption bureau (ACB) on Saturday arrested the owner of Sawan Jewellers, Sector 35-C, Chandigarh, in connection with the alleged Rs.590-crore IDFC First Bank fraud case. The arrested accused has been identified as Rajan Katodia.

The ACB investigation revealed that more than Rs.250 crore was received by Sawan Jewellers from various companies and firms linked to the main accused, including Ribhav Rishi, Abhay Kumar, Abhishek Singla, Swati Singla, and others. The ACB said that the money in these firms and companies had been illegally transferred from Haryana government accounts.

Preliminary investigation also revealed that Rajan Katodia, a resident of Sector 46-A, Chandigarh, wa...