Chandigarh, May 5 -- State-owned power distribution company Uttar Haryana Bijli Vitran Nigam (UHBVN) has ordered the dismissal of Amit Dewan, its chief financial officer and former director, finance, of Haryana Power Generation Corporation Ltd (HPGCL), for allegedly misusing his official position to compromise the utility's interests. This marks the fourth such dismissal by the state government and its wings in the past 10 days where the requirement of a departmental inquiry was dispensed with. According to the dismissal order issued on May 1 by UHBVN managing director, the Haryana Anti-Corruption Bureau (ACB) arrested Dewan on March 18 while he was posted at HPGCL. It followed a February 23 FIR probing discrepancies involving fraudulent banking operations, forged transactions, and systematic diversion of HPGCL funds into sham entities through accounts at IDFC First Bank and AU Small Finance Bank. "On the basis of material available on record, it is evident that Dewan has misused his official position to establish links with the accused persons and bank officials to gain undue benefit by compromising the interest of HPGCL. Thus, the conduct of the delinquent officer is prejudicial to the interest of the power utilities, thereby calling for exemplary action. The matter was investigated by the ACB in a criminal case and now the investigation has been handed over to the CBI by the state government. Therefore, holding a parallel departmental inquiry may affect the ongoing investigation, leading to premature disclosure of evidence and providing the delinquent employee an opportunity to align or manipulate facts in coordination with other accused persons, thereby prejudicing both the investigation and the departmental process," reads the dismissal order. The order said Dewan acted in a manner "most reprehensible," tarnishing the image of the state government and the power utilities in the eyes of the public. The dismissal order states that HPGCL opened a Dry Fly Ash Fund account in IDFC First Bank's Sector-32 Chandigarh branch on February 27, 2024. Though Rs.50 crore was credited to this account from another account maintained in IndusInd Bank on November 11, 2024. The proposal for opening this bank account was initiated and the noting in the file was moved on February 19, 2024, in pursuance to an offer letter for opening the account sent by the now arrested IDFC First Bank branch manager Ribhav Rishi, who is one of the key accused in the case. "Pursuant to the noting, Dewan, in his capacity as director, finance, forwarded the proposal (thereby agreeing with the same) for opening the account without inviting quotations from other empanelled banks and without ensuring compliance with the finance department conditions of March 13, 2018. These instructions mandated that government organisations must consider empanelled banks and follow due financial procedure, including evaluation of terms offered by different banks before opening official accounts," says the order. Dewan approved the opening of an HPGCL Pension Fund Trust account in AU Small Finance Bank, Ludhiana, on June 2, 2025, which was later shifted to its Sector 8 branch in Panchkula. The interrogation of key accused, including branch manager Ribhav Rishi and Abhay Kumar, revealed that these accounts were opened in IDFC First Bank Sector-32 Chandigarh and AU Small Finance Bank Ludhiana (later on shifted to Sector-8 Panchkula) and transactions had taken place from AU Small Finance Bank's Mohali Branch as part of criminal conspiracy hatched with Dewan to siphon off government funds, the order said....