FIR against Jammu and Kashmir bank for Rs 1100 crore fraud

Sun Online Desk

20th October, 2019 02:39:33 printer

FIR against Jammu and Kashmir bank for Rs 1100 crore fraud

 

Another bank in the country has been reported to be involved in a fraud case after the Anti-Corruption Bureau on Saturday filed a First Information Report (FIR) in the Jammu and Kashmir Bank loan case involving over Rs 1,100 crore, officials said.

They said amount was advanced by the bank to Rice Exports India (REI) Agro Ltd soon after the FIR, different teams carried out extensive searches at the houses of over a dozen accused bank officials, including its former chairman Mushtaq Ahmad Sheikh, at nine locations in Kashmir, four in Jammu and three in Delhi, an ACB spokesperson said in a statement here, reports The Statesman.

The ACB registered a Preliminary Enquiry (PE) on allegations that the officials of the bank’s branches at Mumbai’s Mahim and Delhi’s Ansal Plaza had sanctioned loans to the tune of Rs 800 crore in favour of REI Agro on the basis of fake documents.

 


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