CHANDIGARH: The Central Bureau of Investigation (CBI) conducted searches at five locations in Chandigarh and Ludhiana on Thursday in connection with the alleged misappropriation of funds from IDFC First Bank accounts of Chandigarh Smart City Ltd. (CSCL) and the Municipal Corporation Chandigarh, the officials said.
The searches covered residential premises, business establishments of suspected beneficiaries, public servant Anubhav Mishra of CSCL and private entities linked to the investigation.
During the raids, the agency seized digital storage devices, digital signatures, property-related documents, financial records, electronic devices and other material relevant to the probe.
The CBI said the seized documents and electronic evidence were being examined as part of the ongoing investigation.
The agency had taken over the probe from the Haryana State Vigilance and Anti-Corruption Bureau. According to investigators, the case is part of a larger banking fraud at IDFC First Bank’s Sector-32 branch in Chandigarh, where around Rs 504 crore belonging to eight Haryana government departments was allegedly siphoned off through forged or non-existent fixed deposits and fraudulent debit transactions before being routed through shell entities.
Digital records seized
Digital evidence, financial records seized during probe
Charge sheets filed in Haryana, CSCL, CREST cases