The Enforcement Directorate (ED) has initiated a significant investigation into a ₹145-crore fraud associated with the Panchkula Municipal Corporation (MC) in India. On April 22, the ED conducted searches at 12 locations across Chandigarh, Panchkula, Zirakpur, Dera Bassi, and Rajpura, seizing incriminating documents and sale-purchase agreements related to the case. The probe was triggered by a FIR filed by the Panchkula Anti-Corruption Bureau on March 24. So far, six individuals, including Pushpinder Singh, a deputy vice president of Kotak Mahindra Bank, and former bank relationship manager Dileep Kumar Raghav, have been arrested for allegedly siphoning off civic funds. Investigators uncovered that the accused opened unauthorized bank accounts using forged documents and transferred funds from municipal accounts to these accounts through fake migration letters. The investigation revealed that fake fixed deposit receipts were issued to the MC, showing investments worth around ₹145.03 crore. The fraud was discovered when the MC sought details of these deposits, leading to the ED's intervention.