Excelsior Correspondent
SRINAGAR, Feb 13: Chairman and CEO, J&K Bank, Mushtaq Ahmed, today terminated the services of Bank’s Assistant Vice President of Delhi zone and an Executive Manager over massive bunglings and illegal debits worth several crores done at the Rajendra Place branch of the bank.
The two top officials, who have been terminated, are Vijay Kumar Khazanchi, Bank’s Assistant Vice President and Avtar Krishen Bhat, Executive Manager of the Bank.
The scam seems to be closely linked to the fake LC scam as the officers have been named by the aggrieved client from whose account Rs 4 crore was withdrawn.
The issuance of termination order at the highest level is being taken positively by the observers and employees of the bank. “This speaks of the seriousness with which Chairman is looking at the issue. It is positive, it is encouraging and will surely send clear but strong signals to the black sheep who are playing with the reputation of this prestigious institution for petty personal gains”, said a section of observers.
Notably, both the orders culminated with the forceful assertion that the order is issued without prejudice to the Bank’s right to proceed against the erring officers for recovery of loss incurred by the Bank as also any outstanding in their name in the books of the Bank through legal process including both criminal and civil proceedings.
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