The Central Bureau of Investigation (CBI) is set to investigate significant irregularities involving the Municipal Corporation (MC) and the Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST), both linked to accounts at IDFC First Bank. This decision follows a recommendation from the Union Territory (UT) Administration on April 15, citing the extensive nature of the fraud and inter-state financial connections. The ongoing investigation by the Chandigarh Police's economic offences wing (EOW) has revealed a complex network of corruption involving senior officials, bank personnel, auditors, and private entities. The fraud includes a ₹116.84 crore (approximately $14 million USD) fake fixed deposit receipt scam in the MC and a ₹75 crore (approximately $9 million USD) financial irregularity related to CREST. So far, at least 10 individuals have been arrested, while one key suspect, an outsourced accountant for the MC, remains at large. A senior CBI official confirmed that the agency will re-register the case and take custody of all relevant documents and accused individuals.