Embezzlement Of Rs 160 Crore; Two Bank Accounts Related To Panchkula Corporation Are Not In The Records, ACB Investigation Revealed, Possibility Of More Scams
In the investigation into the FD embezzlement case of Rs 160 crore of Panchkula Municipal Corporation, ACB has found two such bank accounts which were not in the records. There is a suspicion that by opening them fraudulently, a game worth crores was made. Interrogation of accused Rajat is going on, in which details and digital data of many bank accounts are being scrutinized. Huge irregularities have been found in the FD records and bank details of the corporation, due to which there is a possibility of more scams.
ACB is collecting details of several bank accounts and analysis of digital data is underway.
Jagran correspondent, Panchkula. During the investigation in the FD embezzlement case of Rs 160 crore of Municipal Corporation Panchkula, Anti Corruption Bureau (ACB) found that two bank accounts related to Municipal Corporation Panchkula were not found in the records. It is suspected that crores of rupees were made out of these by opening them fraudulently.
Who were the people behind these accounts is yet to be revealed. Accused Rajat is being thoroughly interrogated during remand to know into which accounts crores of rupees were transferred, how many people are involved in this game and who are the real beneficiaries.
Details of many bank accounts are being collected by ACB during remand and analysis of digital data is going on. Connections will be made after interrogating the accused on the basis of this evidence. ACB suspects that the accused may have committed more similar scams.
Data did not match
Investigation has revealed irregularities in the FD maintained by the corporation. According to records, the Municipal Corporation had 16 FDs worth Rs 145.03 crore in Kotak Mahindra Bank, Sector-11, Panchkula, whose maturity amount was Rs 160 crore.
Of these, 11 FDs worth Rs 59.58 crore matured on February 16, 2026. When the Municipal Corporation contacted the bank, the details given by the bank neither matched with each other nor with the records of the Municipal Corporation, especially in respect of fixed deposits.
According to the bank statement received on March 16, 2026, for account number 2046903758, the account balance as on March 13 was only Rs 2.18 crore against the expected Rs 50.07 crore. The bank informed that no fixed deposits were operational and the total balance in the accounts as of March 18, 2026 was Rs 12.86 crore.
This was in stark contrast to official records, which showed that the Municipal Corporation held 16 FDs worth Rs 145.03 crore, whose maturity value was Rs 160 crore. These figures did not match the situation stated by the bank.