ACB arrests Ex JK Bank CMD Parvez Ahmad

Srinagar April 03(KNS) : The Jammu & Kashmir Anti-Corruption Bureau (J&KACB) on Saturday arrested former Jammu & Kashmir Bank Chairman-Cum-Managing Director Parvez Ahmad Nengroo for housekeeping of SILAcompany which led to the loss of crores of rupees to Jammu & Kashmir Bank.

A statement issued by the J&K Anti Corruption Bureau (J&K ACB) on
Saturday reads "Parvez Ahmad Nengroo, Ex-CMD, Jammu and Kashmir Bank was on Saturday arrested in matter of  illegal allotment of tenders for housekeeping of SILA Company which led to loss of crores to the JKBank", adding that "investigation of case was conducted under FIR 14/2020of PS ACB Srinagar".

Stating that the case pertains to illegal allotment of tenders by
Jammu and Kashmir Bank regarding housekeeping, to a Mumbai based
Company i.e, M/S SILA Solutions Pvt. Ltd by not following proper
tendering norms as provided in the contract to the said firm despite
not falling into the criteria of any such allotment, the ACB in it's
statement further said "Due to not following the proper tendering
processes, improper ATM cleaning, undue addition ofthe Management Feeand other omissions and commissions detected during the course of investigation,the J&K Bank has suffered losses worth crores of rupees from the date of award of contract".

In the concluding para of it's statement the ACB said " Besides this
case,  charge sheets in connection with FIR 10/2019 of PS ACB Srinagar
have already been produced before the Anti Corruption Court against
Parvez Ahmad Nengroo".

 It is pertinent to mention here that on account of illegal appointments in JK bank, the bank suffered a loss of more than Rs. 250 crore on account of salary paid to these illegal
employees over the period. "Further investigation in the case is in
progress", the ACB statement reads further. (KNS)

To Top