Srinagar, June 15 (IANS): The Jammu and Kashmir Anti-Corruption Bureau (ACB) on Saturday registered an FIR against Deputy Mayor Sheikh Imran, officers of J&K Bank and government officials for misappropriation of subsidy worth crores of rupees to illegally benefit Sheikh’s firm, Kehwa group.
A statement issued by the ACB said: “FIR number 3/2019 under Prevention of Corruption Act has been registered in ACB police station Anantnag against Sheikh Imran, director of M/S Kehwa Square Private Limited, officers of J&K Bank and other government officials for illegal appropriation of subsidy with inflated project cost for establishment of a cold storage at Lassipora, Pulwama.”
“The group got its loan of INR 138 crore with J&K Bank restructured to INR 78 crore. Subsequent to the one time settlement (OTS) surreptitiously consented by Bank officials, the group’s second instalment of INR 55 crore was further reduced to INR 27 crore. It then sought further concessions from the Bank.
“The involved Bank officers and a joint inspection team of government officials misused their position to confer undue pecuniary/monetary advantage to Kehwa group and help it illegally appropriate crores of rupees from the state exchequer,” the ACB officials said. Last week, the ACB’s raids at J&K Bank’s corporate headquarters were followed by Income Tax raids at the business premises of Sheikh Imran.
