The Enforcement Directorate searched 14 premises across Chandigarh, Mohali and Panchkula on September 29 in its investigation into alleged laundering of about ₹645 crore in public funds. PTI’s report in The Tribune and Punjab Newsline’s account that day described searches involving jewellery businesses.
ED officials alleged that money diverted from government-linked accounts maintained with IDFC FIRST Bank was moved through jewellers’ accounts and presented as ordinary commercial payments. The searches investigate that allegation; they do not establish guilt.
In separate background reporting on September 28, The Statesman said the bank described itself as a victim, had reimbursed affected government entities and was cooperating with investigators. That position relates to the wider case, rather than a fresh response to the September 29 searches.
The reviewed reports did not include responses from the businesses searched or establish a new arrest from this operation. Earlier arrests and chargesheets are distinct stages of the investigation and are not convictions. Responsibility for the alleged transfers remains subject to court proceedings.