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Chandigarh: CBI to probe fraud linked to MC and CREST accounts
The Central Bureau of Investigation (CBI) is set to take over the probe into irregularities linked to Municipal Corporation (MC) and CREST accounts with IDFC First Bank. The case involves a ₹116.84-crore fake FDR scam and a ₹75-crore financial irregularity, with at least 10 suspects arrested and one MC outsourced accountant still absconding; the agency will re-register the case and seize documents and digital evidence as part of the transition.
Why It Matters
This represents a central agency taking charge of a high-profile financial fraud case in Chandigarh, reflecting ongoing efforts to pursue accountability for public funds and related irregularities.
Timeline
3 Events
10 accused arrested; one outsourced MC accountant absconding
May 2, 2026
Investigators have so far arrested at least 10 key accused, while one of the key accused—an outsourced accountant in MC—remains absconding.
CBI already probing a similar case involving ₹590 crore embezzlement
May 2, 2026
The central agency is already investigating a separate case involving the embezzlement of ₹590 crore from the Haryana government’s accounts maintained with IDFC First Bank, Chandigarh.
CBI to take over probe into MC and CREST accounts
May 2, 2026
The Central Bureau of Investigation (CBI) is set to take over the probe into irregularities linked to the Municipal Corporation (MC) and the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) accounts with IDFC First Bank. The agency is expected to re-register the case and take custody of all documents, digital evidence, and accused persons as part of the transition.