Panchkula, June 19 -- The Central Bureau of Investigation (CBI) on Thursday arrested IAS officer Ram Kumar Singh, the then Panchkula municipal corporation (MC) commissioner, for his alleged role in the misappropriation of Rs.79 crores from the civic body's account maintained with the IDFC First Bank's branch in Sector 32, Chandigarh.

The CBI alleged that Singh played a crucial role in facilitating the diversion of government funds by handing over multiple signed cheques to bank officials through middlemen under the pretext of creating fixed deposits. However, no fixed deposits were created and the funds were allegedly siphoned off to shell entities controlled by the accused bank officials.

According to the agency, the Panchkula MC accou...