November 18, 2020

ACB produces supplementary charge sheet in Rs 223 Cr J&K Coop Bank loan scam

Spl Secy I&C deptt Gassi, Dy Registrar sent to Judicial Custody

Srinagar: The Jammu & Kashmir Anti-Corruption Bureau (ACB) has produced a supplementary charge sheet against against Mohd Mujib- Ur-Rehman-Ghassi S/o Ghulam Mohd Ghassi R/o Syedpora, Harwan near Syedpora Bridge Tehsil and District Srinagar the then Registrar of Cooperative Societies J&K and Ashiq Hussain Syed Zia-Ud-Din R/o Chewdara Tehsil Berwah District Budgam then Deputy Registrar of Cooperative Societies J&K in the Rs 223 Crore JKSTCB (J&K State Cooperative Bank) loan Scam.
In a statement issued on Tuesday the Anti-Corruption Bureau (ACB) said that both the accused were arrested prior to production of charge sheet and produced in the Court for production of charge sheet. Stating that both the accused were remanded to Judicial custody by the court, the Anti Corruption Bureau (CAN ) in it’s statement said “the Case FIR 04/ 2020 which was registered against Mohammad Shafi Dar R/o Majeed Bagh Barzulla Srinagar Chairman J&K State Co-operative Bank Ltd and others u/s 5(1) (d) r/w Section 5(2) PC Act and sections 465,467,468,471,120-B/RPC in ACB Srinagar for allegedly sanctioning loan to the tune of Rs. 250.00 Crores in favour of a non-existent Society under the name and style River Jhelum Co-operative House Building Society Magarmal Bagh, Srinagar for the purposes of construction of a satellite Township at Shiv Pora Srinagar bypassing the Credit Policy of the bank and on the basis of false and fabricated documents, ACB had already filed a Charge Sheet on 08.11.2020 against Mohd Shafi Dar the then Chairman of J&K State Co-operative Bank, Hilal Ahmad Mir Chairman and Abdul Hamid Hajam Secretary of the said in non-existent Co-operative Society. Further investigation of the case was in progress.
“ Investigation has further revealed that Mujib Ur Rehman Ghassi the then Registrar Co-operative Societies & Ashaq Hussain Dy. Registrar of the office of Registrar Co-operative Societies had issued a letter to J&K State Co-operative Bank under the signature of the Registrar despite knowing fully well that such a society did not exist after checking all the relevant office records”, the statement reads, adding that “on the receipt of the said letter loan to the tune of Rs. 223 Crore was sanctioned in favour of the said non existent Co-operative Society by J&K State Co-operative Bank headed by accused Mohd Shafi Dar, Chairman of the Bank”.
The ACB in it’s statement also said “the investigation has further established that the agenda items of non existent society were also created on 23rd January 2019 before the sanction and disbursement of loan to the tune of Rs. 223 Crores” saying that “ the bye laws of the said Society were created on 21st Nov 2010 fictitiously by Mohd Shafi Dar Ex Chairman of J&K State Co-operative Bank”. The next date of hearing in Hon’ble Court has been fixed on 23rd November.

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