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Bank Loan Fraud: ACB File Supplementary Charge Sheet

KT Web Desk by KT Web Desk
August 5, 2021
in J&K, Latest News
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Bank Loan Fraud: ACB File Supplementary Charge Sheet

Srinagar, Aug 4 : Anti-Corruption Bureau (ACB) has produced a supplementary charge sheet against an in-service bank official in connection with a case registered regarding to the alleged fraud, cheating, illegal appropriation of bank loan for unrelated business activities and misappropriation of back ended subsidy against Sheikh Imran Director M/S Kehwah Square Pvt. Ltd and the bank officials for misuse of official position as public servants.

A case (FIR 3/2019) was registered in the police station ACB for offences of Fraud, Cheating, illegal appropriation of bank loan for unrelated business activities and misappropriation of back ended subsidy  against Sheikh Imran Director M/S Kehwah Square Pvt. Ltd and the bank officials for misuse of official position as public servants.

“During investigation it was established that for the establishment of integrated CA storage project with a total capacity of   5000 MT eligible for the cost of Rs. 3300.00 lakhs under erstwhile Horticulture Mission for North East and Himalayan States (HMNEH) Scheme on the basis of certificate given by the Bank, Rs. 1650.00 lakhs @ 50 % eligible project cost (EPC) was sanctioned in favour of the accused company,” ACB said in a statement to GNS.

The main Chargesheet in the case was filed on 31st August, 2020 against Sheikh Imran (Ex-Deputy Mayor Srinagar) Director M/S Kehwah Square Pvt. Ltd. and other bank officials before the Court of Spl Judge Anti Corruption Pulwama for conspiracy and misappropriation of bank funds.

“ACB produced Supplementary Charge Sheet U/S 173 (8) CrPC against the in-service bank official Aijaz Ahmad Sheikh, the then Incharge Credit, J&K Bank, Business Unit Hari Singh High Street, Srinagar before the Court of Spl. Judge, Anti Corruption, Pulwama.

The supplementary  chargesheet was produced after sanction for launching prosecution against the said bank official Aijaz Ahmad Sheikh was  accorded by the competent Authority,” it said, adding, “Further trial of the case is in progress.” (GNS)

Tags: ACBFraudJ&KJKbankKashmirKupwara TimesLatest NewsSheikh ImranSrinagar
KT Web Desk

KT Web Desk

Kupwara Times is a Weekly Newspaper, which gives you the latest News updates. "Kupwara Times" provides an extensive coverage to events happening in cities, towns and villages of J&K state and rest of the world. Obliging the principles of free and fair press, Kupwara Times has the distinction of being the credible news provider to the news-hungry readers of Jammu and Kashmir and beyond.

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Kupwara Times is a Weekly Newspaper & Multimedia Platform which gives you the latest news updates. "Kupwara Times" provides extensive coverage of events happening in cities, towns and villages of J&K state and the rest of the world. Obliging the principles of the free and fair press, Kupwara Times has the distinction of being the credible news provider to the news-hungry readers of Jammu and Kashmir and beyond.
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