Chandigarh, March 10: Senior Aam Aadmi Party leader Prem Garg has strongly condemned the alleged ₹108 crore financial fraud related to fake Fixed Deposits created in IDFC First Bank in the Chandigarh Municipal Corporation (MC). He termed the incident a serious financial irregularity and demanded an immediate CBI investigation to expose the entire conspiracy.
Garg questioned why the Municipal Corporation officials opened and maintained such large deposits in a private bank like IDFC First Bank instead of nationalised banks such as State Bank of India (SBI) or Punjab National Bank (PNB), which are generally considered safer for public funds. He asked the administration to clarify, who authorised the opening of this account and under whose instructions the deposits were placed in the private bank.
He further said that the claim made by MC officials that the money has been refunded by the bank is misleading and incorrect. According to him, the amount may remain under lien until the case is fully adjudicated by the competent court or specific permission is granted for its release. Such legal proceedings may take several months, meaning the funds are effectively blocked and unavailable for public use.
Prem Garg also criticised the Municipal Corporation for failing to take meaningful action in several previous scams. He cited examples such as the Paid Parking Scam, the forged Bank Guarantee case of CITCO, and the illegal collection of money by enforcement staff from street vendors, which allegedly runs into crores of rupees. He stated that in most of these cases, no significant action has been taken against the guilty officials, which encourages further corruption.
“The people of Chandigarh deserve transparency and accountability. Public money cannot be allowed to be misused in this manner,” Garg said.
He demanded that:
The entire case be handed over to the CBI for a fair and independent investigation.
All officials and individuals involved in the diversion of funds be identified immediately.
Arrests be made without delay of those in whose accounts the money has been transferred.
A complete audit of all Municipal Corporation deposits and financial transactions be conducted.
Prem Garg asserted that the Aam Aadmi Party will continue to raise this issue until every rupee of public money is secured and all those responsible for the fraud are brought to justice.