State Financial Corporation officials in Crime Branch net in J

Srinagar, Apr 1 (UNI) The Jammu and Kashmir police Crime Branch (CB) has filed a chargesheet in a local court against four people, including State Financial Corporation (SFC) manager, for committing fraud.

A spokesman of the CB said a complaint was received alleging that the officials of the SFC had released a huge amount in favour of fictitious and fake firms.

He said a case was registered and investigation taken up during which it was found that the Manager SFC Nazir Ahmad had processed loan application to the tune of Rs 27.28 lakh in favour of Mohammad Hussain and Zahoor Ahmad for setting up a juice plant.

He said an amount of Rs 8.44 lakh was released for purchase of machinery.

However, during the investigation it was found that no machinery was purchased by the accused.

He said investigation has been completed and a chargesheet was presented in the court UNI BAS ASM BDP RK1245