Punjab Newsline | Chandigarh/Ludhiana
Central Bureau of Investigation (CBI) on Thursday conducted raids at five locations in Chandigarh and Ludhiana as part of its investigation into the alleged ₹116 crore Chandigarh Smart City Limited and Municipal Corporation Chandigarh scam.
The searches were carried out at the premises of suspected beneficiaries, a government official, and private entities linked to the case. During the operation, the CBI seized digital storage devices, digital signatures, property-related documents, financial records, electronic gadgets, and other crucial evidence.
The recovered material is currently undergoing forensic examination.
According to the CBI, the case involves the alleged misappropriation of funds deposited by Chandigarh Smart City Limited and the Municipal Corporation in fixed deposits with IDFC First Bank's Sector 32 branch.
Investigators allege that nearly ₹116 crore, originally held as fixed deposits, was fraudulently withdrawn through a criminal conspiracy and routed to shell companies, allowing the accused to siphon off crores of rupees.
The agency stated that it took over the investigation from the Haryana State Vigilance and Anti-Corruption Bureau following a request from the Haryana Government.
CBI further revealed that in the Haryana-linked case, charge sheets have already been filed against 17 accused. In the Chandigarh Smart City scam, separate charge sheets have been filed against seven accused, while another chargesheet in the CREST-related case names five bank officials, two CREST officers, four private individuals and two companies.
