Home Business ACB produces chargesheet in Rice Export India Scam of Rs. 1100 Crore...

ACB produces chargesheet in Rice Export India Scam of Rs. 1100 Crore of J&K Bank

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Anti Corruption Bureau produced a charge sheet against Sandip Jhunjhunwala S/o Kailash Chander R/o W-25/C, Western Avenue, Sainik Farms, New Delhi Managing Director M/s REI Agro Limited, Mohd Yousaf Bhat the then Branch Head Mahim and other 29 accused persons before the Court of Special Judge Anti Corruption Jammu in 1100 Crore loan Scam.
A case FIR 24/2019 U/s 5(1)(d) r/w 5(2) of J&K P.C Act Svt 2006 and Sections 120-B, 467, 468, 471,420 /RPC was registered in Anti Corruption Bureau Jammu for allegedly sanctioning and disbursing Crop Loans to the tune of Rs. 400 Crores, Term Loan Rs. 150 Crores from J&K Bank Branch Mahim and Bill Discounting facilities to the tune of Rs. 115 Crores from J&K Bank Vasant Vihar Branch in favour of M/s REI Agro Limited without tangible securities and in violation of banking norms.
The investigation conducted has revealed that M/s REI Agro Ltd is a Public Limited company having its registered office at Everest House 46-C,…

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