Excelsior Correspondent
JAMMU, June 9: Special Judge Anticorruption Jammu Yash Pal Bourney today granted 8 days police remand of Mohammad Shafi Dar, Chairman Cooperative Bank, who was allegedly involved in Rs 233 crore scam.
As per the Anti-Corruption Bureau, Chairman of a Cooperative Society had moved an application to Secretary Cooperatives, Administrative Department of Co-operative Societies, seeking directions to J&K Cooperative Bank Ltd for grant of financial assistance to the tune of Rs 300 crore for taking over possession of 300 kanals of land in the Srinagar city outskirts for construction of Satellite Township.
“The application was endorsed to Registrar Cooperative Societies J&K for taking up the matter with Jammu and Kashmir State Cooperative Bank. Accordingly, J&K Cooperative Bank Srinagar sanctioned loan to the tune of Rs 223 crore without adhering to any codal formalities,” the ACB said.
“During enquiry, it also surfaced that River Jhelum Cooperative Housing Building Society has not been even registered with Registrar Co-operative Societies, J&K and Hilal Ahmad Mir and the Bank Chairman and others prepared fake and fictitious registration certificates and accordingly managed the sanction of loan to the tune of Rs 223 crore”, the ACB said.
Follow our WhatsApp channel