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The Economic Times
The Economic Times
Business

IDFC First Bankscam: CBI searches in Chandigarh, Ludhiana

New Delhi: The CBI has conducted searches at multiple locations in Chandigarh and Ludhiana in connection with the alleged Rs 657 crore misappropriation of funds from the IDFC First Bank accounts of Chandigarh Smart City Ltd. and Municipal Corporation Chandigarh, officials said on Thursday.

"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 (CSCL), public servant Anubhav Mishra of CSCL and private entities connected with the investigation," a CBI spokesperson said in a statement.

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