Parvez Ahmad Nengroo, Ex-CMD, Jammu and Kashmir Bank arrested in matter of illegal allotment of tenders for housekeeping of SILA Company which led to loss of crores to the JK Bank

Parvez Ahmad Nengroo, Ex- Chairman, Jammu and Kashmir Bank has been arrested by Anti Corruption Bureauin connection with investigation of case FIR 14/2020of PS ACB Srinagar.

2. The case pertains to illegal allotment of tenders byJammu and Kashmir Bank regarding housekeeping, to a Mumbai based Company i.e, M/S SILA Solutions Pvt. Ltd by not following proper tendering norms as provided in the contract to the said firm despite not falling into the criteria of any such allotment.

3. Due to not following the proper tendering processes, improper ATM cleaning, undue addition ofthe Management Fee and other omissions and commissions detected during the course of investigation,the J&K Bank has suffered losses worth crores of rupees from the date of award of contract.

4. Besides this case, charge sheets in connection with FIR 10/2019 of PS ACB Srinagar have already been produced before the Anti Corruption Court against Parvez Ahmad Nengroo. It is pertinent to mention here that on account of illegal appointments in JK bank, the bank suffered a loss of more than Rs. 250 crore on account of salary paid to these illegal employees over the period.

5. Further investigation in the case is in progress.

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