|  |  | 

India Top Headlines

ACB Arrests Former Chairman of J&K Bank in Bid Fraud Case | India News

img-responsive

SRINAGAR: The anti-corruption office arrested former J&K Bank president Parvez Nengroo on Saturday in connection with a bid fraud case.
The ACB, in its statement, said that J&K Bank’s clean-up bids were awarded to Mumbai-based SILA Solutions Pvt Ltd, without adhering to the company’s bidding rules. The firm did not qualify to be the winner of the tender. Later, investigations revealed that he had allegedly caused a loss of more than Rs 6 million to the company “by his act”.
In October of last year, a case related to the accusation was registered against Parvez and four other people. On Saturday, an ACB team arrested Nengroo at his residence in Srinagar.
In addition to this case, the ACB said that charges have already been filed in relation to another case registered a year earlier before the anti-corruption court against Nengroo. The case concerns illegal appointments at J&K Bank, which suffered a loss of more than 250 million rupees due to the salary paid to these illegal employees during the period.
Nengroo was removed from office in 2019 for alleged large-scale wrongdoing at the bank when the Mehbooba Mufti government was in power at J&K.

Reference page

acb-arrests-former-chairman-of-jk-bank-in-bid-fraud-case-india-news

ABOUT THE AUTHOR