Rs 116-crore scam: Former employee of Chandigarh Municipal Corporation seeks anticipatory bail

After being on the run for many days, Anubhav Mishra, a former employee of the Municipal Corporation and one of the accused in the Rs 116-crore IDFC First Bank scam case, has moved a local court for anticipatory bail.

The MC had terminated services of Mishra, who was working as accountant on outsource basis, soon after the scam came to light.

Later, the Economic Offence Wing of the Chandigarh Police made him accused in the case. An FIR against Mishra and bank officers was registered on the complaint of the MC Commissioner, who had reported over Rs 116 crore of fake fixed deposit receipts (FDRs) and mismanagement in various bank accounts of Chandigarh Smart City Limited and MC in IDFC First Bank’s Sector 32 branch.

He alleged that FDRs worth over Rs 116 crore were not appearing in the IDFC Bank system and were stated to be fake. The FDRs were reportedly issued by Rishab Rishi, the then manager of the bank’s Sector 32 branch, during March/April 2025. Anubhav Mishra was custodian of the FDRs. In his bail application, Mishra denied all allegations and said he had no authority to make any transaction with the money lying in the bank accounts. He said all transactions were done with the consent of MC officials.