Srinagar, Sept. 4 -- The Economic Offences Wing of Crime Branch Kashmir has registered a case over a loan fraud of ?3.09 Crore involving the Hatigam Multipurpose Cooperative Society (MPCS) in Anantnag. The case was taken up after the General Manager of Anantnag Central Cooperative Bank Ltd. filed a complaint alleging large-scale financial irregularities.

In a statement issued to KNS, Crime Branch Kashmir said that loans worth ?3.09 Crore were sanctioned in 2014 to 127 members of MPCS Hatigam. While ?2.50 Crore has been recovered, an amount of ?1.21 Crore remains unpaid by 39 members. However, many of these alleged defaulters claimed they had cleared their dues directly with the society and even produced receipts as proof.

A preliminary ...