Financial fraud cases are not ending from Chandigarh. Now another shocking news has come out from here. Some time ago, a fraud of about Rs 590 crore was revealed in IDFC First Bank. Now the new case that has come to light is that the IDFC Bank manager, along with fraudsters, made a big dent in the fund kept for the development of the Union Territory and defrauded the government of crores of rupees.
IDFC Bank manager along with fraudsters stole funds worth crores of rupees from Chandigarh Smart City Limited (CSCL). During the investigation, embezzlement of funds worth Rs 116.84 crore has so far come to light. Funds were to be transferred from Chandigarh Smart City Limited to Chandigarh Municipal Corporation (MCC) and a dedicated account was opened in IDFC First Bank for this process.
But instead of depositing the funds, the bank manager issued Fixed Deposit Receipts (FDRs) to the Municipal Corporation. When the Municipal Corporation got these issued receipts verified, it was found that all these FDRs worth Rs 116.84 crore were completely fake. There was no trace of this money in the bank records.
This matter came to light when the Fixed Deposit Receipts (FDRs) were examined by the Municipal Corporation during the process of fund transfer. When the matter came to light, IDFC First Bank informed the police that the entire amount has been deposited back into the Municipal Corporation's account.
It is being told that there was manipulation regarding money about 2 months ago. After this, the Municipal Corporation Administration recently gave a complaint to the police, on which a case was registered yesterday on Monday. Chandigarh Municipal Corporation has received back about Rs 121 crore along with interest from the bank in exchange of the corporation's deposit amount of Rs 116.84 crore.
The police immediately took cognizance of the complaint of Chandigarh Municipal Corporation and an FIR was registered in this matter. Taking action, the Economic Offenses Wing (EOW) of the police has registered a case under different sections of the Indian Code of Justice (BNS) under various sections 318 (4) (fraud), 338, 336 (3), 340 (2), 61 (2) and 316 (5).
In this case, Chandigarh Police is investigating the role of not only the bank manager, but also other senior officials of the bank and employees of Chandigarh Municipal Corporation. Police fear that such a big scam cannot be carried out without any inside help. At present, preliminary investigation has revealed that fake documents were prepared by the concerned branch manager of IDFC First Bank and the Municipal Corporation officials were misled by putting the seal of the bank on them.
