Mehbooba Mufti asked for clarifications on J&K Bank scam

Srinagar, Aug 04: The Anti Corruption Bureau has sought a clarification from former Jammu and Kashmir chief minister, Mehbooba Mufti in connection with the J&K Bank scam.

The ACB seeks to to know if she had any role to play in the illegal recruitments in the bank. The note issued says, " it may please be clarified whether such references had your endorsement,verbal or otherwise for appointments in J&K Bank."

The Anti-Corruption Bureau (ACB) had registered a case and conducted raids after unearthing a loan fraud worth over Rs 177 crore in Jammu and Kashmir Bank.

The ACB formally booked the management and officials of the bank along with the illegal beneficiaries involved in the financial irregularities, a spokesman of the ACB said.

Giving details, he said a joint surprise check (JSC) was conducted by the ACB, Jammu, on account of the allegations of financial irregularities committed by the officers of J&K bank, wherein it was revealed that various loan facilities were extended to proprietors of a partnership firm Messrs Paradise Avenue during the period 2012 to 2017 in contravention to the laid down norms of the bank, resulting in the loan accounts turning into non-performing assets.

It was found that the proprietors of the firm approached J&K Bank, Branch New University Campus Jammu, for availing loan facility of Rs 74.27 crores for setting up a residential township complex under the name of 'Paradise Avenue' at Narwal in Jammu consisting of 52 flats in each of the towers named Eden and Zion, he said.