The Central Bureau of Investigation (CBI) on Thursday said it has conducted searches at multiple locations in Chandigarh and Ludhiana in connection with the misappropriation of funds from IDFC First Bank accounts of Chandigarh Smart City Ltd (CSCL) and Municipal Corporation Chandigarh.
CHANDIGARH — The Central Bureau of Investigation (CBI) on Thursday said it has conducted searches at multiple locations in Chandigarh and Ludhiana in connection with the misappropriation of funds from IDFC First Bank accounts of Chandigarh Smart City Ltd (CSCL) and Municipal Corporation Chandigarh.
The searches were conducted at five locations, including residential premises, business establishments of suspected beneficiaries of the defrauded funds belonging to the Municipal Corporation and CSCL, former accountant Anubhav Mishra and private entities connected with the investigation.
During the searches, various incriminating documents and articles were recovered and seized. These include digital evidence like storage drives, digital signatures, property-related documents, financial records, multiple electronic devices and other documents relevant to the investigation.
The seized documents and electronic records are being examined and analysed as part of the ongoing investigation.
The CBI had taken over the investigation from the State Vigilance and Anti-Corruption Bureau in Haryana at the request of the state government.
The fraud relating to HSPCB forms part of a larger banking fraud at the IDFC First Bank branch in Sector 32 in Chandigarh, wherein government funds amounting to approximately Rs 504 crore belonging to eight departments of the Haryana government were allegedly siphoned off through forged and non-existent fixed deposits and fraudulent debit transactions and subsequently routed through shell entities.
So far, the CBI has filed chargesheets against 17 accused belonging to Haryana, including six bank officials of IDFC First Bank and AU Small Finance Bank, three public servants of the state government of Haryana, two companies and six private individuals.
The CBI has also taken over two related cases in Chandigarh -- one pertaining to CSCL and Municipal Corporation and another relating to Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST).
Chargesheets have already been filed in both cases. In the CSCL case, the CBI has chargesheeted five bankers, one CSCL official and one private individual. In the CREST case, chargesheets have been filed against five bankers, two CREST officials, four private individuals and two companies.