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Chandigarh/Panchkula: The State Vigilance and Anti-Corruption Bureau, Haryana, has registered an FIR in connection with an alleged ₹150-crore fraud involving funds of the Municipal Corporation (MC), Panchkula, maintained with Kotak Mahindra Bank.
The case has been registered under charges of criminal breach of trust, cheating and forgery, following directions from Haryana Chief Secretary Anurag Rastogi, who heads the vigilance department.
Fraud in Municipal Accounts
The scam came to light after discrepancies were detected in fixed deposits and linked accounts of the MC at the bank’s Sector 11 Panchkula branch.
Officials said the vigilance bureau has taken over the probe, and a separate complaint filed by the bank with Haryana Police is unlikely to be pursued, as the matter is already under investigation.
In a statement, Kotak Mahindra Bank said it had initiated a detailed reconciliation process at the MC’s instructions and found that account opening procedures, KYC documentation, and transactions were carried out in accordance with norms.
“A significant portion of the amounts under review has already been reconciled… and the process is ongoing,” the bank said, adding that it is cooperating with authorities.
Second Major Banking Fraud in Haryana
This is the second major financial scam to surface in Haryana in recent weeks, after the ₹590-crore fraud involving IDFC First Bank and AU Small Finance Bank, raising concerns over oversight of government funds.
Hooda Targets the BJP Government
Reacting to the development, Leader of Opposition and former Chief Minister Bhupinder Singh Hooda termed the BJP government a “factory of scams” and demanded a high-level, impartial inquiry.
Hooda alleged that the fraud involved forged fixed deposit documents and said such a large-scale scam would not have been possible without official collusion.
“A scam of this magnitude cannot take place without involvement at some level. A high-level probe is essential to expose the truth and ensure accountability,” he said.
He further claimed that the Panchkula case follows a series of alleged irregularities, citing the ₹590-crore bank scam and alleged scams in agricultural mandis under the Bhavantar scheme.
Hooda also alleged irregularities in the forest and mining sectors, claiming that valuable Khair trees worth crores had been illegally felled in recent months. He stressed that a comprehensive and independent investigation is necessary to prevent misuse of public funds and to take strict action against those responsible.
The vigilance bureau has begun its probe, focusing on financial transactions, documentation and possible involvement of officials and private entities. Authorities said further action will follow as evidence is examined and the flow of funds is traced.
