Sexual favours, cash showers: Escorts bare details of Rs 657-crore IDFC First Bank fraud

Two female escorts who allegedly spent private time with Haryana IAS officer Pankaj Agarwal, one of six IAS officers in Haryana accused of siphoning off large sums of money in the Rs 657-crore IDFC First Bank–AU Small Finance Bank scam, are believed to have blown the whistle on the scam, albeit unknowingly.

A third woman, the girlfriend of Ribhav Rishi, the alleged mastermind of the scam, revealed the entire plot to the CBI when they were cross-questioned, telling the investigative agency how officials were entertained with mujra parties, luxury stays and sexual favours, even as alcohol flowed freely, the CBI charge sheet says.

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The women identified Pankaj Agarwal when investigators showed them his photograph.

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The two female escorts, cited as W-2 and W-3 in the CBI charge sheet, and Rishi’s girlfriend, cited as W-1, cannot be named. The investigating officers have kept their identities anonymous and submitted their names in a sealed cover to the CBI Special Court, Haryana, in Panchkula.

The CBI has accused Agarwal of having bank accounts opened for the Haryana School Shiksha Pariyojana Parishad (HSSPP) and the Haryana State Agriculture Marketing Board (HSAMB) at a specific branch of IDFC First Bank, in collusion with the accused bankers, from where more than Rs 60 crore was allegedly siphoned off.

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W-1 confirmed to the CBI that dance parties were booked and held in her name at Jade Manor, Zirakpur (SAS Nagar). She said she was entrusted with arranging the “best mujra” girls.

She revealed that Rishi, along with Abhay Kumar, the former relationship manager at IDFC First Bank; Naresh Kumar Bhuwani, the former superintendent in Haryana’s Development and Panchayats Department; Abhishek Singla, Abhay Kumar’s brother-in-law and one of the proprietors of Swastik Desh Projects, a shell entity allegedly floated to siphon off funds; Arun Sharma, former regional manager of AU Small Finance Bank; Ankur Sharma, one of the directors of SRR Planning Gurus, a shell firm allegedly floated to siphon off funds; and IAS officer Pankaj Agarwal were common attendees.

According to W-1, “Pankaj Agarwal sir” would insist that Rishi arrange more and more parties. She said there were two sets of girls at these parties: one for dance performances and another for spending private time with guests in the rooms at Jade Manor. She said that when Rishi received calls from Agarwal, he would put her on a WhatsApp conference call so that the smallest details of the party could be finalised.

“During such conversations, Pankaj Agarwal sir used to specifically discuss the number of performers, their presentation and other arrangements. He was particularly insistent that fresh faces (girls) should be arranged for the ‘mujra’ parties and would express his preference for different or new performers,” W-1 told the CBI.

The girl dancers were supposed to dance to the songs being played, while the second set of girls would sit with the guests and interact closely with them, including the IAS officer and other officials in question, W-1 added. “Thereafter, the guests, according to their choice, would take the concerned girl with them to private rooms available within the premises of Jade Manor,” she said.

On Agarwal, she further said, “…on several occasions, after consuming about 3-4 pegs of alcohol, Pankaj Agarwal sir would say words to the effect of, ‘Yeh sab mujhe samajh mein nahi aata... room mein chalo’ (I don’t understand all this… let’s go to the room). From his conduct and repeated remarks, I understood that his primary interest during such parties was not merely watching the ‘mujra’ performance but taking a girl of his choice to one of the private rooms. On such occasions, Pankaj sir would also indicate his preference for a particular girl and would ask Ribhav Rishi or others to arrange accordingly.”

According to the charge sheet, Rishi would arrange for the guests to shower crisp, newly issued currency notes on the performing girls. About Rs 2.5 crore to Rs 3 crore was spent on these parties.

W-1 said that, over time, Pankaj Agarwal grew fond of one of the girls, Bebo, and would insist on her presence.

She also revealed the names of performers at these events, although she was not sure whether they were their real names: Bebo, Fiza, Muskan, Ankita, Aarzoo, Sana, Choti Sana, Heer, Ally, Kiran, Varsha, Meenakshi, Shine, Amy, Adaa, Misba, Lovely, Priya, Anjali, Kajal, Mahi, Annu, Muskan, Payal, Simran, Soniya Chaube and Aliya.

W-2, who lives in Delhi, told the CBI that she was paid Rs 50,000 for the first ‘mujra’ party at Jade Manor, in August 2025.

She was once asked to travel to Chandigarh for Agarwal in January 2026. Although she missed her flight, she was told to reach by taxi. A suite was booked at Hotel Wyndham, Mohali. Naresh Kumar Bhuwani, a former superintendent in the Development and Panchayats Department, kept a guard outside the bedroom.

She said she was paid Rs 75,000 for sexual favours. Later that same month, she attended another ‘mujra’ party at Jade Manor, for which she was paid Rs 50,000.

W-3, who said she lived in Zirakpur, told the CBI that she had attended two such parties, in November and December 2025, for which she was paid Rs 10,000-Rs 12,000 on each occasion. “I was asked to remain in a room at the premises… Pankaj Agarwal came to the room on both occasions and remained there with me for some time,” she told the CBI.

About Agarwal, W-1 told the CBI, “During the initial parties, Pankaj Agarwal sir specifically asked me to come inside one of the rooms at Jade Manor. I understood from his conduct and the manner in which he made such requests that his interest was not confined merely to watching the dance performances; nothing happened to me since Ribhav was always there to protect me…”