Srinagar, March 7 -- A preliminary enquiry (PE) has been registered Rs 1000 crore JKCHC, HUDCO loan default case, Anti-Corruption bureau said in a statement Saturday.

It said the case was registered on the basis of a complaint received from the General Administration Department (GAD) J&K, Jammu to look into the allegations of J&K Cooperative Housing Corporation (JKCHC), which has defaulted in repayment of loan amount amounting to Rs 40.63 crore raised from HUDCO.

J&K government was the guarantor and 70 percent of the capital was owned by the government.

The complaint further revealed as on 26.07.2017, an amount of Rs 90 crores including interest was outstanding against the Corporation. HUDCO had further blacklisted the government till ...