Balwinder Singh :- In a significant development, the Haryana Vigilance and Anti-Corruption Bureau has made the first arrest in connection with the alleged ₹160 crore financial irregularity involving the Panchkula Municipal Corporation. The accused, identified as Dileep Kumar Raghav, was serving as a Relationship Manager at a private bank at the time of the alleged offence.
According to officials, the accused was taken into custody following preliminary findings that pointed towards his involvement in submitting misleading information related to fixed deposits to the municipal corporation. Investigators suspect that he acted in coordination with key conspirators, leading to discrepancies between official municipal records and the bank’s financial data.
Authorities revealed that the mismatch in Fixed Deposit Receipts (FDRs) and associated accounts is estimated to be around ₹160 crore, raising serious concerns over financial oversight and internal controls.
Meanwhile, the bank has maintained that an internal review of the accounts and transactions linked to the municipal corporation was conducted and, based on available records, all processes appeared to comply with established banking norms.
The case was formally registered after the state government referred the matter for a detailed probe into the discrepancies in municipal funds and bank records. Charges including cheating and criminal conspiracy have been invoked, and officials indicated that further arrests and revelations may follow as the investigation progresses.
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