October 2, 2020

ACB registers case against former JK Bank Chairman, others for violating tender norms

Srinagar : Anti Corruption Bureau has registered an FIR against accused Surjeet Singh Seghal, the then Executive President J&K Bank (now retired), Parvaiz Ahmad, the then Chairman of J&K Bank, Feroz Ahmad, the then Assistant Vice President and Sahil Vora and Rishabh Vora, Directors, M/s SILA Solutions Pvt. Ltd. along with the residents of 508 Olympus Apartments 5C, Altamont Road Mumbai-400026 on the allegation that the officers and officials of J&K Bank Ltd. awarded tenders of housekeeping to a Mumbai based Company M/s SILA Solutions Pvt. Ltd by not following the proper tendering norms and that has led to the losses to the bank of the tune of Rs. 6,29,56,575/- from the date of award of contract
In a statement issued here on Thursday, the ACB said that the case pertains to allotment of tenders, for housekeeping of offsite ATMs, to a Mumbai based Company i.e, M/S SILA Solutions Pvt. Ltd, by not following proper tendering norms as provided the contract to the said firm despite not falling into the criteria of any such allotment.
“Earlier, a verification was conducted by Anti Corruption Bureau Central into the matter wherein it was revealed that J&K Bank with HQ at Srinagar came out with a Pan India tender for housekeeping services in the year 2015. J&K bank officials in contravention of tender conditions negotiated the rates with M/S SILA Solutions Pvt Ltd. The tender was awarded to M/S SILA Solutions Pvt Ltd in gross violation of General Financial Rules (GFR).”
“The contract of M/S SILA Solutions Pvt Ltd amongst other conditions included ATM cleaning and deployement of janitors. The additional management fee awarded to M/S SILA Solutions Pvt Ltd by J&K Bank was not part of original tender. The loss on the account of the tender has worked out to be more than Rs 6 crores. The loss is likely to go up as investigation progresses.”
“In this connection, on 17.09.2020, P/S ACB Srinagar Kashmir conducted search at the residential house of Sh. Feroz Ahmad Kaloo, Assistant Vice President J&K Bank S/O Mohammad Maqbool Kaloo situated at Mohalla Muma Khan (Kathidarwaza), opposite Psychiatric Hospital Rainwari Srinagar. Incriminating documents were seized during searches.”
The anti-graft body said that the investigation of the case is in progress.

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