12-09-2024     3 رجب 1440

J&K Grameen bank fraud: ED attaches property worth Rs 3.40 Cr

October 11, 2024 | BK News Service

The Directorate of Enforcement (ED), has provisionally attached six immovable properties worth Rs.3.40 Crore in Jammu & Kashmir Grameen Bank (JKGB) fraud case, officials said on Thursday.
The properties that have been attached belonged to Ishtiyaq Ahmad Parray, a resident of Tangbagh, Khayam, Srinagar; Tariq Ali Parray, Haseena Bano, and Maqsood Ali Parray situated at Srinagar and its nearby places and a flat at Zakir Nagar, New Delhi under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The ED said they initiated an investigation based on 4 FIRs registered by the CBI, Anti Corruption Bureau, Srinagar wherein Ishtiyaq Parray, the then Branch Manager, JKGB & 10 Others were charge-sheeted under various sections of RPC (pari-materia to corresponding Sections of IPC, 1860) and JK PC Act (pari-materia to Section 13 of PC Act, 1988) for embezzlement of funds to the tune of Rs. 6.30 Crore by sanctioning of loans fraudulently to the non-existent borrowers.
"ED investigation revealed that Ishtiyaq Parray, the then Branch Manager of JKGB while posted at its Mirgund, Pattan and Khanpet Branches during the year 2014-19 fraudulently sanctioned 107 KCC, 50 JLG, 17 Vehicles, 4 CCs, and 2 Easy Finance Loans, in total 180 fake loan accounts, to the tune of Rs. 6.30 Crore which were credited into the bank accounts of non-existing borrowers, which later turned into NPA," the ED said.
"The loans so sanctioned were subsequently transferred into the bank accounts of the several mule account holders who were his known persons/driver/daily wage workers. Thereafter, these amounts were transferred into the bank accounts of Ishtiyaq Ahmad Parray and his family members, which were ultimately used for the acquisition of immovable properties in their names," the ED said, adding further investigation is under progress.

BREAKING NEWS

VIDEO

Twitter

Facebook

J&K Grameen bank fraud: ED attaches property worth Rs 3.40 Cr

October 11, 2024 | BK News Service

The Directorate of Enforcement (ED), has provisionally attached six immovable properties worth Rs.3.40 Crore in Jammu & Kashmir Grameen Bank (JKGB) fraud case, officials said on Thursday.
The properties that have been attached belonged to Ishtiyaq Ahmad Parray, a resident of Tangbagh, Khayam, Srinagar; Tariq Ali Parray, Haseena Bano, and Maqsood Ali Parray situated at Srinagar and its nearby places and a flat at Zakir Nagar, New Delhi under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The ED said they initiated an investigation based on 4 FIRs registered by the CBI, Anti Corruption Bureau, Srinagar wherein Ishtiyaq Parray, the then Branch Manager, JKGB & 10 Others were charge-sheeted under various sections of RPC (pari-materia to corresponding Sections of IPC, 1860) and JK PC Act (pari-materia to Section 13 of PC Act, 1988) for embezzlement of funds to the tune of Rs. 6.30 Crore by sanctioning of loans fraudulently to the non-existent borrowers.
"ED investigation revealed that Ishtiyaq Parray, the then Branch Manager of JKGB while posted at its Mirgund, Pattan and Khanpet Branches during the year 2014-19 fraudulently sanctioned 107 KCC, 50 JLG, 17 Vehicles, 4 CCs, and 2 Easy Finance Loans, in total 180 fake loan accounts, to the tune of Rs. 6.30 Crore which were credited into the bank accounts of non-existing borrowers, which later turned into NPA," the ED said.
"The loans so sanctioned were subsequently transferred into the bank accounts of the several mule account holders who were his known persons/driver/daily wage workers. Thereafter, these amounts were transferred into the bank accounts of Ishtiyaq Ahmad Parray and his family members, which were ultimately used for the acquisition of immovable properties in their names," the ED said, adding further investigation is under progress.


  • Address: R.C 2 Quarters Press Enclave Near Pratap Park, Srinagar 190001.
  • Phone: 0194-2451076 , +91-941-940-0056 , +91-962-292-4716
  • Email: brighterkmr@gmail.com
Owner, Printer, Publisher, Editor: Farooq Ahmad Wani
Legal Advisor: M.J. Hubi
Printed at: Sangermal offset Printing Press Rangreth ( Budgam)
Published from: Gulshanabad Chraresharief Budgam
RNI No.: JKENG/2010/33802
Office No’s: 0194-2451076
Mobile No’s 9419400056, 9622924716 ,7006086442
Postal Regd No: SK/135/2010-2019
POST BOX NO: 1001
Administrative Office: R.C 2 Quarters Press Enclave Near Pratap Park ( Srinagar -190001)

© Copyright 2023 brighterkashmir.com All Rights Reserved. Quantum Technologies

Owner, Printer, Publisher, Editor: Farooq Ahmad Wani
Legal Advisor: M.J. Hubi
Printed at: Abid Enterprizes, Zainkote Srinagar
Published from: Gulshanabad Chraresharief Budgam
RNI No.: JKENG/2010/33802
Office No’s: 0194-2451076, 9622924716 , 9419400056
Postal Regd No: SK/135/2010-2019
Administrative Office: Abi Guzer Srinagar

© Copyright 2018 brighterkashmir.com All Rights Reserved.