Jammu and Kashmir, Oct. 20 -- The Anti Corruption Bureau (ACB) at J&K Bank has registered an FIR against two dozen people including 13 bank officers for loaning Rs 1124 crore. Rice Export India Agro Limited was given a loan from the bank. Three ACB teams are raiding the locations of the accused officers. Among them, nine in the Kashmir Valley, four in Jammu and three in Delhi are being searched in the houses of chairman and VC, besides.
800 crore loan given in 2011-2013 on the basis of fake papers
According to ACB, loan has been approved from J&K Bank Mahim Mumbai and Ansal Plaza New Delhi Branch. Between 2011 and 2013, 800 crore loans were issued from both branches on the basis of forged papers in the company's name. In 2014, the bank inc...