J&K bank’s ex-chairman held in illegal tender allotment case

Due to the lapses, improper ATM cleaning, undue addition of the management fee and other omissions and commissions detected during the course of investigation, and the J&K Bank has suffered losses worth crores of rupees from the date of award of contract, said an ACB official

Jammu and Kashmir Bank’s former chairman Parvez Ahmad Nengroo was arrested on Saturday in connection with a case of illegal allotment of tenders for housekeeping that led to a loss of crores of rupees to the bank, the anti-corruption bureau (ACB) said.

Arrested computer hacker and cyber criminal with handcuffs, close up of hands (Getty Images/iStockphoto)

“The case pertains to illegal allotment of tenders for housekeeping to a Mumbai-based company i.e, M/S SILA Solutions Pvt. Ltd. Proper tendering norms were not followed while alloting the tender,” said a spokesperson of the ACB.

He further added that due to the lapses, improper ATM cleaning, undue addition of the management fee and other omissions and commissions detected during the course of investigation, and the J&K Bank has suffered losses worth crores of rupees from the date of award of contract.

“Besides this case, chargesheets 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,” the ACB statement said. adding that further investigation in the case is in progress.