ACB registers case against Sahil Vora and Rishabh Vora, Proprietors of M/s SILA Solutions Mumbai and bank officials: Company was favoured in awarding contract: Loss to tune of more than 06 crores detected: Searches conducted

Anti Corruption Bureau, Union Territory of Jammu and Kashmir has registered an FIR against accused Sh. Surjeet Singh Seghal, the then Executive President J&K Bank (now retired), Sh. Parvaiz Ahmad, the then Chairman of J&K Bank (now retired), Sh. Feroz Ahmad, the then Assistant Vice President; and Sh. Sahil Vora and Sh. Rishabh Vora, Directors, M/s SILA Solutions Pvt. Ltd. along with the residents of 508 Olympus Apartments 5C, Altamont Road Mumbai-400026 on the allegation that the officers/officials of J&K Bank Ltd. awarded tenders of housekeeping to a Mumbai based Company M/s SILA Solutions Pvt. Ltd by not following the proper tendering norms and that has led to the losses to the bank of the tune of Rs. 6,29,56,575/- from the date of award of contract
2. The case pertains to allotment of tenders, for housekeeping of offsite ATMs, to a Mumbai based Company i.e, M/S SILA Solutions Pvt. Ltd, by not following proper tendering norms as provided the contract to the said firm despite not falling into the criteria of any such allotment.
3. Earlier, a verification was conducted by Anti Corruption Bureau Central into the matter wherein it was revealed that J&K Bank with HQ at Srinagar came out with a Pan India tender for housekeeping services in the year 2015. J&K bank officials in contravention of tender conditions negotiated the rates with M/S SILA Solutions Pvt Ltd. The tender was awarded to M/S SILA Solutions Pvt Ltd in gross violation of General Financial Rules (GFR).
4. The contract of M/S SILA Solutions Pvt Ltd amongst other conditions included ATM cleaning and deployement of janitors. The additional management fee awarded to M/S SILA Solutions Pvt Ltd by J&K Bank was not part of original tender. The loss on the account of the tender has worked out to be more than Rs 6 crs. The loss is likely to go up as investigation progresses.
5. In this connection, on 17.09.2020, P/S ACB Srinagar Kashmir conducted search at the residential house of Sh. Feroz Ahmad Kaloo, Assistant Vice President J&K Bank S/O Mohammad Maqbool Kaloo situated at Mohalla Muma Khan (Kathidarwaza), opposite Psychiatric Hospital Rainwari Srinagar. Incriminating documents were seized during searches.
6. The investigation of the case is in progress.

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