The Central Bureau of Investigation (CBI), on Tuesday, conducted searches at over 8 locations in Mumbai, Hyderabad and Kolkata pertaining to a case of irregularities during purchase of an office by J&K bank in Mumbai’s Bandra Kurla Complex (BKC).
The ED has been investigating the J&K bank scam based on an FIR registered by the CBI in 2021.
Last month, the former Jammu and Kashmir CM, Omar Abdullah was also questioned by ED in connection with the same case.
The case is connected to the allegations of purchase of property worth Rs 180 crore for use of J&K Bank at BKC Mumbai to allegedly confer undue benefits to the vendor.
''The CBI is today conducting searches at eight locations including at Jammu, Srinagar, and Mumbai at the premises of then members of the Estate Committee of the Board of Directors, including then Chairman of J&K Bank, then directors, then executive director,'' CBI Spokesperson RC Joshi told PTI. Incriminating documents, articles, and electronic evidence, several bank account details, and bank locker keys have been recovered during searches, he said.
The property was allegedly not required as there was sufficient space available with J&K Bank in Mumbai for banking operations while there were allegations of quid pro quo for facilitating the sale deed, as India Today had previously reported.
CBI filed an FIR against the then management of J&K Bank for buying a property in the BKC area in 2010 allegedly at an exorbitant price in “blatant disregard to the tendering process under a well-knit conspiracy.”
Besides this case, the ED was also investigating a case under the PMLA (Prevention of Money Laundering) against J&K Bank for suspicious transactions in various bank accounts in which huge amounts of funds were allegedly diverted by the directors of J&K Bank through bogus loans.
(With inputs from Munish Pandey)
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