📷 Image: Wikimedia Commons / শরদিন্দু ভট্টাচার্য্য
Crime
ED conducts raids in Tricity over alleged ₹645 crore IDFC Bank fraud
✍️ hindustantimes.com
🗓 01 Oct 2026, 12:46 AM
👁 13
The Enforcement Directorate carried out coordinated raids in Chandigarh, Mohali and Panchkula as part of a probe into a suspected ₹645 crore fraud linked to IDFC Bank.
The Enforcement Directorate (ED) launched a series of raids on Thursday across the Tricity region—Chandigarh, Mohali and Panchkula—targeting individuals and premises suspected of involvement in a large-scale fraud alleged to involve IDFC Bank. Sources said the operation was part of a broader investigation into a purported financial scam amounting to roughly ₹645 crore.
According to officials, the raids were coordinated to prevent the possible destruction of evidence and to apprehend key suspects. Teams from the ED reportedly entered multiple offices and residential locations, seizing documents, electronic devices and financial records for forensic analysis.
While the ED has not disclosed the identities of those detained or the exact nature of the alleged wrongdoing, the agency indicated that the probe focuses on irregularities in loan disbursements and misuse of bank funds. The investigation is ongoing, and further updates are expected as the agency processes the seized material.
The raids underscore the government's heightened focus on curbing financial crimes and ensuring accountability within the banking sector. Stakeholders in the financial community have been urged to cooperate fully with investigators.
No arrests or detailed statements were released at the time of reporting, and the ED has asked the media to respect the confidentiality of the ongoing inquiry.
According to officials, the raids were coordinated to prevent the possible destruction of evidence and to apprehend key suspects. Teams from the ED reportedly entered multiple offices and residential locations, seizing documents, electronic devices and financial records for forensic analysis.
While the ED has not disclosed the identities of those detained or the exact nature of the alleged wrongdoing, the agency indicated that the probe focuses on irregularities in loan disbursements and misuse of bank funds. The investigation is ongoing, and further updates are expected as the agency processes the seized material.
The raids underscore the government's heightened focus on curbing financial crimes and ensuring accountability within the banking sector. Stakeholders in the financial community have been urged to cooperate fully with investigators.
No arrests or detailed statements were released at the time of reporting, and the ED has asked the media to respect the confidentiality of the ongoing inquiry.