Pushpender Singh, 41, the suspended deputy vice-president of Kotak Mahindra Bank in Panchkula, is implicated in a ₹150-crore fraud involving fixed deposit receipts of the Panchkula municipal corporation. Investigators allege that Singh misappropriated around ₹35 crore from this fraud to purchase luxury vehicles, including a Wrangler Rubicon, a Mercedes GLS, and a Harley-Davidson motorcycle, collectively valued at ₹2.5 crore. The vehicles are reportedly hidden in Delhi and have not yet been recovered. The state vigilance and anti-corruption bureau (ACB) arrested Singh after he surrendered and is seeking a seven-day police remand for further questioning. The ACB revealed that Singh fabricated documents and counterfeit stamps using a laptop and printer, with evidence of these items concealed in Narkanda, Himachal Pradesh. The investigation is ongoing, focusing on tracing the financial trail across multiple accounts and identifying other potential accomplices. The FIR was registered on March 24 under the Prevention of Corruption Act and related laws after discrepancies in bank statements were discovered, revealing a significant shortfall in the municipal corporation's accounts.