After allegation of owning properties in foreign countries came to the fore, the CBI has booked Hilal Rather, the son of National Conference leader and former Jammu and Kashmir finance minister Abdul Rahim Rather, in a Rs 177-crore bank fraud case, officials said on Thursday.
Reports said the central agency has taken over the case on the recommendation of the Anti-Corruption Branch of Jammu and Kashmir.
The ACB has alleged that Hilal had taken a loan from Jammu and Kashmir Bank for his ambitious township project, known as Paradise Avenue, at Narwal Bala in Jammu in 2012, they said. However, the account had turned non-performing asset in 2017, they said.
“The loan amount was diverted to be invested in properties in Dubai and America, sponsorship of a T20 cricket team of a company and hosting shows of a popular stand-up comedian,” the agency has said.
Union Territory Government of Jammu and Kashmir is likely to write to the Central Government for handing over case to the CBI as the ACB has reported that loan taken from Jammu and Kashmir Bank was used to purchase immovable properties at United States and Dubai.
“An official request was likely to be made by the Union Territory Government for transfer of case to the CBI New Delhi in the next few days,” sources said.
Investigations have also revealed that certain forged documents had been used to obtain loan from the Jammu and Kashmir Bank.
Meanwhile, the High Court also directed the Medical Superintendent, Government Medical College (GMC) Jammu to constitute a Board of Doctors from the Departments of Urology, Medicine and Chest Infections under his supervision for examination of Hilal Rather.
High Court Judge Justice Sanjay Kumar Gupta, however, ordered that Dr Rahul Gupta, Associate Professor, Department of Urology SSH/GMC Jammu, who has already given a report, shall not be included in the Board and entire exercise will be completed within two days.