IDFC First Bank scam:CBI conducts searches in Chandigarh, Ludhiana

The Central Bureau of Investigation (CBI) has conducted searches at multiple locations in Chandigarh and Ludhiana in connection with the case involving misappropriation of funds from IDFC First Bank accounts of Chandigarh Smart City Ltd. (CSCL) and Municipal Corporation of Chandigarh. The searches were conducted at five locations, including residential premises, business establishments of suspected beneficiaries of the defrauded funds belonging to Municipal Corporation Chandigarh and Chandigarh Smart City Limited, public servant Anubhav Mishra of CSCL 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.
It may be recalled that the CBI had taken over the investigation from the State Vigilance and Anti-Corruption Bureau, Haryana, at the request of the state government. The government funds amounting to approximately Rs 657 crore belonging to eight departments of the Government of Haryana and two of Chandigarh Administration were allegedly siphoned off through forged/non-existent Fixed Deposits and fraudulent debit transactions and subsequently route through shell entities. The seized documents and electronic records are being examined and analysed as part of the ongoing investigation.
So far, the CBI has filed charge sheets against 17 accused in the Haryana case, including six bank officials of IDFC First Bank and AU Small Finance Bank, three public servants of the Government of Haryana, two companies and six private individuals.