Srinagar, June 22 -- The Court of City Judge (Judicial Magistrate 1st Class), Srinagar, has convicted Fayaz Ahmad Bhat, son of Ghulam Nabi Bhat and resident of Bhagi Sunder Payeen, Chattabal, in a long-pending financial fraud case involving J&K Industries Ltd.

The case, registered under FIR No. 66/2003 at Police Station Crime Branch Kashmir, pertained to large-scale misappropriation of government property and manipulation of official records at the Government Woollen Mills, Bemina. The discrepancies, uncovered during a stock verification exercise, included delayed ledger entries, unauthorized stock movements, and use of fake invoices to divert materials through illegal channels between 1995 and 2003.

Following a detailed investigation b...