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IDFC funds diversion case: CBI raids 5 spots in Chandigarh, Ludhiana
According to the CBI, the raids were carried out at residential premises and business establishments of suspected beneficiaries of the defrauded funds, the premises of a public servant, identified as Anubhav Mishra, an outsourced account of MC
The Central Bureau of Investigation (CBI) on Thursday conducted searches at five locations in Chandigarh and Ludhiana as part of its ongoing investigation into the alleged misappropriation of funds from the bank accounts of Chandigarh Smart City Limited (CSCL) and the municipal corporation.
According to the CBI, the raids were carried out at residential premises and business establishments of suspected beneficiaries of the defrauded funds, the premises of a public servant, identified as Anubhav Mishra, an outsourced account of MC, and private entities linked to the investigation.
During the searches, investigators seized several incriminating documents and articles, including digital storage drives, digital signatures, property-related documents, financial records, electronic devices and other records considered relevant to the case. The agency said the seized material is being examined.
The alleged fraud involving CSCL forms part of a larger banking scam at the Sector 32 branch of IDFC First Bank, Chandigarh, in which government funds to the tune of ₹504 crore belonging to eight Haryana government departments were allegedly siphoned off through forged or non-existent fixed deposits and fraudulent debit transactions before being routed through shell entities. In the CSCL case, seven persons, including five bankers, one CSCL official and a private individual, have been chargesheeted, while in the CREST case, chargesheets have been filed against 13 accused, including five bankers, two CREST officials, four private individuals and two companies.
