Rs 116-crore fraud linked to Chandigarh Smart City accounts: EOW registers FIR after municipal commissioner’s complaint

Police records indicate that the alleged offence occurred over an extended period between March 28, 2025, and March 7, 2026. The suspected fraudulent activities reportedly occurred through financial transactions linked to IDFC First Bank, located in Sector-32, about 5 km south of the concerned police station’s jurisdiction.

The FIR names Anubhav Mishra, a resident of Adarsh Nagar, Naya Gaon in Mohali, as one of the accused. Another accused mentioned in the complaint is Ribhav Rishi, along with other associates whose roles are currently under investigation.

Police sources indicated that they are examining the involvement of additional individuals and possible financial links connected to the case. The case has been classified as a serious economic offence, prompting the EOW to initiate a detailed investigation into the transaction trail and the alleged siphoning of funds.

A police officer said they will scrutinise bank records, digital transaction trails, and financial documents to determine how the funds were diverted and whether the fraud involved forged documents, account manipulation, or collusion by insiders.

The EOW has begun collecting evidence and may soon summon the accused and other relevant individuals for questioning. The police are also coordinating with banking officials and financial experts to trace the movement of funds.

Police sources stated that further details will emerge as the investigation progresses, and additional charges or accused persons may be added based on the findings.

Mayor seeks detailed report

Taking cognisance of media reports regarding alleged ‘ghost’ fixed deposits worth Rs 116.84 crore, Chandigarh Mayor Saurabh Joshi sought an immediate inquiry and a detailed action-taken report (ATR) from the Municipal Commissioner.

In a statement issued Tuesday, the Mayor said every rupee of public money belongs to the citizens of Chandigarh and any irregularity, big or small, will not be tolerated.

The move comes after reports suggested that fixed deposits amounting to around Rs 116.84 crore were reportedly not reflected in the official records of the concerned bank during March–April 2025, raising questions about financial oversight and accountability.

Expressing concern over the matter, Mayor Joshi stated that Chandigarh has always been known for transparent governance and clean administration, and any issue involving such a large amount of public funds must be examined with complete transparency and urgency.

He noted that the EOW has already registered an FIR and initiated an investigation into the matter. The Mayor directed that full cooperation be extended to the investigating agencies.

Joshi has also asked the Municipal Commissioner to identify officers and officials responsible for handling and supervising CSCL’s bank accounts during the relevant period. He further recommended a comprehensive forensic audit of all CSCL financial transactions since its inception through an independent third-party auditing agency.

The Municipal Commissioner has been asked to submit a detailed report within five working days, including the status of discrepancies and progress of the investigation.