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Loan graft case: ACB issues lookout notice against J&K Co-op Bank ex-chairman

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SRINAGAR: Jammu and Kashmir Anti-Corruption Bureau on Tuesday issued a lookout notice against Mohammad Shafi Dar, the former chairman of J&K Cooperative Bank and an accused in the bank loan scam of Rs 223 crore. Dar, who had sanctioned the amount in favour of a fake cooperative housing society, has 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 sanctioned a 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 Srinagars Magarmal Bagh, was arrested by the ACB on May 18. However, Dar — also accused of making backdoor appointments — is yet to be arrested.
ACB on Tuesday also released a portrait of Dar mentioning the offence sections slRead More – Source

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