New Delhi, July 23: The Central Bureau of Investigation (CBI) has taken significant action in a case involving the embezzlement of government funds linked to the Chandigarh Municipal Corporation and Chandigarh Smart City Limited (CSCL). On Thursday, the agency conducted simultaneous raids at multiple locations in Chandigarh and Ludhiana, seizing important documents and digital evidence.
According to the CBI, searches were carried out at five locations, including the residences and business establishments of beneficiaries involved in the embezzlement, the residence of CSCL officer Anubh Mishra, and premises of private institutions related to the investigation.
During the raids, the CBI uncovered crucial evidence, including digital storage drives, digital signatures, property-related documents, financial records, various electronic devices, and other significant documents. These materials are currently undergoing detailed examination and analysis.
The CBI noted that this case was initially under the jurisdiction of the Haryana State Vigilance and Anti-Corruption Bureau. Following a request from the state government, the investigation was later handed over to the CBI.
The agency revealed that this case is part of a larger banking fraud linked to the IDFC First Bank’s Sector 32 branch in Chandigarh. Allegations suggest that approximately ₹504 crore of government funds from eight departments of the Haryana government were siphoned off through fake or non-existent fixed deposits and fraudulent debit transactions, funneled through shell companies.
So far, the CBI has filed charges against 17 accused individuals, which include six bank officials from IDFC First Bank and AU Small Finance Bank, three government employees from Haryana, two companies, and six individuals.
Additionally, the CBI is investigating two other cases related to the Union Territory of Chandigarh. The first case involves CSCL and the Chandigarh Municipal Corporation, while the second pertains to the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST).
In both cases, the CBI has already filed charges. In the CSCL case, five bank officials, one CSCL officer, and one private individual have been named as accused. Meanwhile, the CREST case includes charges against five bank officials, two CREST officials, four private individuals, and two companies.
The CBI has stated its commitment to bringing all responsible parties to justice and is actively working to trace the entire chain of misappropriated public funds and recover the proceeds of the crime.
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