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Anti-Corruption Bureau Concludes Two-day Raid at J&K Bank Headquarters

The ACB raided the corporate headquarters of the bank on Saturday, within minutes of the sacking of bank chairman Parvez Ahmad.


Updated:June 10, 2019, 8:23 AM IST
Anti-Corruption Bureau Concludes Two-day Raid at J&K Bank Headquarters
Image of J&K Bank. headquarters in Srinagar.

Srinagar: The Anti-Corruption Bureau (ACB), which is looking into allegations of fraudulent appointments in the Jammu and Kashmir Bank (J&K Bank), concluded its two-day searches at the corporate office of the lender on Sunday and will follow it with questioning of suspects, officials said.

"The searches of the premises of J&K Bank which started yesterday after registration of FIR by Anti-Corruption Bureau concluded today (Sunday)," a spokesman of the ACB said. Further investigation in the case is going on, he added.

"During search operations, documents, discriminatory material pertaining to the appointments were seized. Further investigation is going on and questioning of accused/suspects will follow," the spokesman said.

Earlier in the day, ACB sleuths, along with the police, reached the corporate headquarters of the bank situated at M A Road here in the summer capital of the state, and continued the search at the premises for the second day, the officials said.

They said the ACB officials were checking the files and documents related to appointments made by the bank in recent years.

The ACB raided the corporate headquarters of the bank on Saturday, within minutes of the sacking of bank chairman Parvez Ahmad. The government ordered Ahmad's dismissal and replaced him with an interim chairman, R K Chibber who was executive president of the financial institution.

The Anti-Corruption Bureau, which is looking for the records of the nearly 1,200 appointments, made allegedly at the behest of political masters of the previous PDP-BJP dispensation in the state during Ahmad's tenure as chairman of the bank, on Saturday registered a case under the Prevention of Corruption Act on the basis of a written complaint received in ACB headquarters to look into the allegations related to illegal or fraudulent appointments made in the bank.

The spokesman of the ACB said that since the allegations reflected in the complaint disclose commission of criminal misconduct by officers/officials of J&K Bank, which constitute offence under section 5(1)(d) of the Prevention of Corruption Act, and punishable under section 5(2) of the Act, a case (FIR No. 10/2019) was registered in Police Station Anti Corruption Bureau (ACB) Central Kashmir, in Srinagar, and investigation of the case was taken up.

The government, which owns majority stake in the bank, has said that the decision to sack Ahmad was part of long-term measures for improving functioning of the bank in accordance with RBI guidelines.

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