The Central Bureau of Investigation (CBI) arrests a former municipal official in Panchkula in connection with an alleged ₹79.46-crore fund diversion scam linked to the municipality. According to the CBI, the accused helped facilitate the diversion of government money by providing multiple signed cheques to bank officials through middlemen. The cheques were allegedly handed over on the pretext of opening or creating fixed deposits at IDFC First Bank, through an arrangement involving bank personnel.
The CBI alleges that the funds were debited from the municipal accounts after the cheques were processed, but that no fixed deposits were created. The conspiracy is described as involving IDFC First Bank officials and the accused’s role in ensuring the cheques reached the bank via intermediaries. Both reports describe the core allegation as a cheque-based diversion scheme where signed instruments were used to move money out, without the corresponding deposit being established.
The case remains subject to CBI allegations and the legal process.
