KPMG Forensic Audit Clears IDFC First Bank of Systemic Fraud in Chandigarh Case

KPMG Forensic Audit Clears IDFC First Bank of Systemic Fraud in Chandigarh Case

Forensic Findings Confirm Isolated Incident A comprehensive forensic review conducted by KPMG has concluded that the ₹646 crore financial fraud involving IDFC First Bank’s Chandigarh branch was an isolated incident rather than a systemic failure. The audit confirmed that the financial loss, which the lender had previously disclosed to regulatory authorities, resulted from a coordinated…

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ED Makes Third Arrest in ₹645-Crore IDFC First Bank Embezzlement Case

ED Makes Third Arrest in ₹645-Crore IDFC First Bank Embezzlement Case

The Latest Development in the Financial Investigation The Enforcement Directorate (ED) has arrested prominent real estate businessman Vikram Wadhwa in connection with a massive ₹645-crore embezzlement case involving IDFC First Bank in Haryana and Chandigarh. Federal investigators took Wadhwa into custody this week, alleging that he personally received over ₹70 crore of the siphoned funds….

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