Former J&Ok Financial institution Chairman Arrested In Smooth Fraud Case
Former J&Ok Financial institution Chairman Parvez Ahmad Nengroo was once arrested in unlawful allotment of smooth case (Report)
Srinagar:
Former chairman of J&Ok Financial institution Parvez Ahmad Nengroo was once arrested on Saturday in reference to a case of unlawful allotment of tenders for house responsibilities that ended in a lack of crores of rupees to the financial institution, the Anti-Corruption Bureau (ACB) mentioned.
The ACB had registered a case in October ultimate 12 months in opposition to a personal company and 3 former financial institution officers, together with Ahmad, for allegedly inflicting a Rs 6.92-crore loss to the financial institution by means of now not following tendering regulations.
“Nengroo has been arrested by means of ACB in reference to the investigation of a case that relates to unlawful allotment of tenders by means of Jammu and Kashmir Financial institution referring to house responsibilities, to a Mumbai primarily based Corporate (M/S SILA Answers Pvt. Ltd) by means of now not following correct tendering norms as supplied within the contract,” the ACB mentioned in a observation in Srinagar.
The observation mentioned because of now not following the right kind tendering processes, mistaken ATM cleansing, undue addition of the Control Rate and different omissions and commissions detected right through the investigation, the J&Ok Financial institution suffered losses value crores of rupees from the date of award of the contract.
But even so this situation, the ACB mentioned price sheets in reference to every other case registered a 12 months previous have already been filed sooner than the Anti-Corruption Court docket in opposition to Nengroo.
The case pertains to unlawful appointments in J&Ok financial institution which suffered a lack of greater than Rs 250 crore as a result of wage paid to those unlawful staff over the length.
But even so Nengroo, the ACB has named Sahil Vora and Rishabh Vora, administrators, SILA Answers Pvt Ltd, Surjeet Singh Seghal, the then govt president of J&Ok Financial institution (now retired) and Feroz Ahmad, the then assistant vice-president, within the tendering fraud.
