Loan graft case: J&K Co-op Bank ex-chairman arrested | India News – Times of India
JAMMU: A day after issuing a lookout notice against Mohammad Shafi Dar, the former chairman of J&K Cooperative Bank Ltd and an accused in the Rs 223 crore loan graft case, J&K Anti-Corruption Bureau (ACB) arrested him on Wednesday.
Dar, who had sanctioned the amount in favour of a fake cooperative housing society, had gone underground ever since his plea seeking the quashing of the FIR against him in the case was rejected by the J&K high court last week.
“Dar had been evading arrest ever since a case was registered against him. Following the arrest, he has been taken into custody and is being interrogated,” said the bureau’s official spokesperson on Wednesday.
ACB on Tuesday had released a portrait of Dar mentioning the offence sections slapped against him in the FIR. In a notice, the bureau had stated: “If any person is having any knowledge/information about the whereabouts of the accused Mohd Shafi Dar, he/she may inform/communicate through email/WhatsApp/toll-free no. etc. to ACB.”
Dar — also accused of making backdoor appointments — had sanctioned the loan worth the huge amount in favour of a non-existent cooperative society named “River Jhelum Cooperative House Colony” at Shivpora Srinagar. After an ACB inquiry and subsequent registration of an FIR, the J&K administration dismissed Dar and two other officials of the bank. The chairman of the so-called cooperative society, Hilal Ahmad of Srinagar’s Magarmal Bagh, was arrested by the ACB on May 18 and the siphoned funds to the tune of Rs 187 crore were traced by the bureau and frozen.