NEW DELHI: The Central Bureau of Investigation (CBI) conducted searches at multiple locations in Chandigarh and Panchkula in connection with misappropriation of state government funds involving private banks and seized financial records and digital evidence linked to the alleged fraud, officials said on Friday.
Certain officials of IDFC First Bank and AU Small Finance Bank, in connivance with public servants of various departments of the Haryana government, allegedly misappropriated government funds through fraudulent means, an official statement said.
According to the agency, 16 accused persons have been arrested in the case, the agency said. The investigation has been expedited by the CBI, and several leads are being pursued, it added.