ACB books Bank officials in ‘Kehwa Group’ case

Fayaz Bukhari

SRINAGAR, Aug 4: The Anti Corruption Bureau (ACB) today filed a supplementary charge sheet against the bank officials in the ‘Kehwa Group’ case for conspiracy and misappropriation of bank funds.
The ACB said that a case FIR 3/2019 was registered in the PS ACB Anantnag for offences of Fraud, cheating, illegal appropriation of bank loan for unrelated business activities and misappropriation of back-ended subsidy against Sheikh Imran Director M/s Kehwah Square Pvt. Ltd and the bank officials for misuse of official position as public servants.
“During the investigation, it was established that for the establishment of integrated CA storage project with a total capacity of 5000 MT eligible for the cost of Rs. 3300.00 lakhs under erstwhile Horticulture Mission for North East and Himalayan States (HMNEH) Scheme based on the certificate given by the Bank, Rs 1650.00 lakhs @ 50 % eligible project cost (EPC) was sanctioned in favour of the accused company,” the ACB said.
The ACB produced supplementary charge sheet U/S 173 (8) CrPC against the in-service bank official Aijaz Ahmad Sheikh, the then Incharge Credit, J&K Bank, Business Unit Hari Singh High Street, Srinagar before the Court of Special Judge, Anti Corruption, Pulwama.
“The supplementary charge sheet was produced after sanction for launching prosecution against the said bank official Aijaz Ahmad Sheikh was accorded by the competent authority,” the ACB said.
Main chargesheet in the case, the ACB said, was filed on 31st August 2020 against Sheikh Imran (ex-Deputy Mayor Srinagar) Director M/s Kehwah Square Pvt. Ltd. and other bank officials before the Court of Special Judge Anti Corruption Pulwama for conspiracy and misappropriation of bank funds. ” Further trial of the case is in progress,” the ACB said.