On Wednesday, the Enforcement Directorate (ED) conducted searches at 12 locations across Chandigarh, Panchkula, Zirakpur, Dera Bassi, and Rajpura (Patiala) as part of an investigation into a ₹145 crore money laundering case linked to the alleged embezzlement of municipal funds from the Panchkula Municipal Corporation. The raids targeted premises associated with Dileep Kumar Raghav and Pushpinder Singh, both customer relationship managers at Kotak Mahindra Bank, as well as Vikas Kaushik, a former senior accounts officer at the corporation. The ED's actions were carried out under the Prevention of Money Laundering Act (PMLA) and followed an FIR registered by the Anti-Corruption Bureau (ACB) in Panchkula. The FIR alleges a conspiracy involving officials from Kotak Mahindra Bank to siphon off municipal funds through a well-planned fraud. During the searches, the ED seized several incriminating documents and sale-purchase agreements, which are expected to aid in the ongoing investigation.