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Ex-Chairman J&K Bank arrested in illegal allotment of tenders case: ACB

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Srinagar: Ex-Chairman Jammu and Kashmir Bank, Parvez Ahmad Nengroo, has been arrested by Anti Corruption Bureau in connection with an investigation of case FIR 14/2020of PS ACB Srinagar, said a spokesperson of the Bureau.

“The case pertains to the illegal allotment of tenders by Jammu and Kashmir Bank regarding housekeeping, to a Mumbai-based Company i.e, M/S SILA Solutions Pvt. Ltd by not following proper tendering norms as provided in the contract to the said firm despite not falling into the criteria of any such allotment. Due to not following the proper tendering processes, improper ATM cleaning, undue addition of the Management Fee and other omissions and commissions detected during the course of the investigation, the J&K Bank has suffered losses worth crores of rupees from the date of award of the contract,” the spokesperson said.

“Besides this case,  charge sheets in connection with FIR 10/2019 of PS ACB Srinagar have already been produced before the Anti-Corruption Court against Parvez Ahmad Nengroo. It is pertinent to mention here that on account of illegal appointments in JK bank, the bank suffered a loss of more than Rs. 250 crore on account of salary paid to these illegal employees over the period. Further investigation into the case is in progress,” the spokesperson added.;

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