Now, CREST flags Rs 75cr ‘mismatch’; EOW lodges another FIR against bank staff

Chandigarh: The Economic Offences Wing (EOW) of UT police has registered another FIR over alleged irregularities in transactions worth ₹75 crore linked to IDFC First Bank, following a complaint by the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST).CREST alleged that although the organisation had received the funds, discrepancies emerged during reconciliation, prompting a demand for a detailed investigation.Police said the FIR was registered under Sections 316(5), 318(4), 336(3), 338, 340(2) and 61(2) of the BNS on the complaint of the CREST project director, filed on behalf of the CEO. The complaint names IDFC First Bank employees Abhay Kumar, Seema Dhiman, Ribhav Rishi and others for alleged unauthorised withdrawals and deposits from CREST accounts.During reconciliation of records with original bank statements, officials identified 303 unauthorised withdrawal and deposit entries, resulting in a principal shortfall of over Rs 75 crore. The role of additional bank officials is also under investigation, police said.The case adds to an earlier investigation into suspicious transactions detected in the accounts of Chandigarh Smart City Limited (CSCL), where alleged fake Fixed Deposit Receipts (FDRs) worth Rs 116.84 crore and additional mismatches of Rs 8.22 crore surfaced during verification.Following the closure of the CSCL project in March 2025, its assets and financial records were transferred to the Municipal Corporation. During consolidation, the MC Commissioner found that the FDRs mentioned in documents did not exist in the bank's system.The FDRs were allegedly issued in March and April 2025 by then IDFC First Bank Sector-32 branch manager Rishav Rishi, who is currently in Haryana Vigilance Bureau custody. Chandigarh Police are preparing to seek his production warrant.The MC's outsourced accountant, Anubhav Mishra—who handled CSCL's financial paperwork—is also under scrutiny and is currently untraceable. Police teams are searching for him.Meanwhile, the Haryana Anti-Corruption Bureau (ACB) is probing suspicious transactions totalling Rs 590 crore across various state departments, in which Chandigarh-based businessman and alleged middleman Vikram Wadhwa is believed to be the key conspirator. Chandigarh Police suspect possible links between the accused in both cases and have seized a Range Rover registered in Wadhwa's name.