The Times of India

Chandigarh Smart City CFO Nalini Malik arrested in Rs 116 crore fake fixed deposit receipt scam

Chandigarh Smart City project's CFO, Nalini Malik, has been arrested in connection with a Rs 116 crore fake fixed deposit receipt scam. The Economic Offences Wing apprehended Malik from her residence in Mohali. The investigation alleges embezzlement of government funds through fake FDRs created in collusion with a former bank manager and another official.