Chandigarh, March 14 -- Even as the Chandigarh Police have registered a criminal case following alleged financial irregularities worth over Rs.75.16 crore linked to bank accounts of the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST), the organisation has clarified that it did not hold any fixed deposit with IDFC First Bank and that no financial irregularity has been detected in its accounts. The case was registered on March 12 at the Economic Offences Police Station (EOPS), Sector 17, under several provisions of the Bharatiya Nyaya Sanhita (BNS) after a complaint was filed by the project director of CREST on behalf of the society's chief executive officer. According to the complaint, the FIR names Abhay Kumar, Seema Dhiman and Ribhav Rishi, employees of IDFC First Bank, along with other unidentified officials posted at the bank's Sector-32 branch in Chandigarh. Officials said CREST had opened a current account with the Sector-32 branch of the bank about four years ago, through which around 15 transactions were carried out each month. As a precautionary measure and in compliance with an advisory issued by the finance department on February 25, CREST transferred its funds from IDFC First Bank to Punjab National Bank, Sector 22, on February 27, 2026. In an official clarification, CREST stated that its accounts have been regularly audited and reconciled, with the audit completed up to March 31, 2025, and financial records reconciled up to November 2025. The clarification came after media reports suggested possible links between CREST's accounts and a broader banking controversy. CREST maintained that no financial loss has occurred either to the society or to the Chandigarh administration, and that all funds remain intact. Meanwhile, the Chandigarh administration has constituted a committee to examine whether any procedural lapses occurred in maintaining the accounts. CREST officials said the organisation is cooperating fully with the inquiry and providing all necessary records. The committee's findings are awaited....