ACB registers case against Mohd Mushtaq, the incumbent GM/CEO (JCCBL), Ravi Vaid, the then Manager, Sudesh Kumar Sharma, the then Branch Incharge, JCC Branch Pouni, Distt. Reasi and Mohan Lal Sharma, Secretary Pura Kotla, (MPCS) and others: Searches Conducted.

Anti-Corruption Bureau registered a formal case against Mohd Mushtaq, the incumbent GM/CEO JCCBL, Ravi Vaid, the then Manager, Sudesh Kumar Sharma, the then Branch Incharge JCC Bank,Branch Pouni Distt. Reasi and Mohan Lal Sharma, Secretary Pura Kotla, MPCS and others vide FIR No.02/2020 u/s 5(1) (d) r/w 5 (2) of J&K PC Act, Svt. 2006 and & 467, 468, 471 & 120-B RPC at ACB Jammu.

2. The instant case was registered on the outcome of verification conducted by ACB into the allegations of financial irregularities and mismanagement by incumbent General Manager/ Chief Executive Officer of the Jammu Central Cooperative Bank Limited (JCCBL) which revealed that during the year 2016, Rs.43.91 Lakhs were shown to have been disbursed to Pura Kotla Multi Purpose Cooperative Society (MPCS) Block Pouni, District Reasi through Ravi Vaid, Manager and Sudesh Kumar Branch Incharge JCC Bank Branch Pouni.

3. It was found that on ground no such amount was disbursed to the farmers and only paper work was completed to keep the society eligible for contesting the election of Board of Directors of JCC Bank in which Mohan Lal Sharma, then Secretary, Pura Kotla MPCS had already elected twice. The beneficiaries and members of the Pura Kotla MPCS neither received the loan nor deposited loan amount in the Bank during the Kharif-2016, only the interest portion of the loan was given to the Secretary, MPCS in cash who would deposit the same in the JCC Bank Branch Pouni and the principal amount was adjusted in Bank Cash Book by corrupt and fraudulent means.

4. It was also found that J&K Govt. had announced 50% waiver for eligible individual KCC borrowers in March 2015 whereas, the JCC Bank waived Rs.23.44 Lakh of crop loan to cover up the previous fictitious loan of Kharif 2016 and Rabi 2016-17. The outstanding loan was liquidated by fabrication of records by the Bank officials in connivance with the beneficiaries. The society is running 100% default with outstanding amount of Rs.30.91 Lakh and overdue amount of Rs.30.91 Lakh.

5. ACB after registration of a formal case under relevant sections of law, also conducted searches with the help of local Police /Magistrates at residential houses of Mohd Mushtaq, the incumbent GM/CEO Jammu Central Cooperative Bank Ltd situated at Ward No.4 Rajouri and Bathindi Jammu, residential house of Ravi Vaid, the then Manager, JCCB Ltd situated at 237/7 Talab Tillo Jammu, residential house of Sudesh Kumar Sharma, the then Branch Incharge, JCCB Branch Pouni, Distt. Reasi situated at Sail Sallan, Udhampur and Mohan Lal Sharma, Secretary Poura Kotla, MPCS at Ransoo, Tehsil Pouni, Reasi. During the process, incriminating documents and relevant record, papers relating to properties and FDRs are seized on spot in presence of independent witnesses.

6. Detailed and in-depth scrutiny of the seized record and further investigation is going on.

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