Jammu and Kashmir Bank
In picture: People walk past a branch of the Jammu and Kashmir Bank. [Representational image]Twitter

The Jammu and Kashmir Anti-corruption Bureau (ACB) on Monday, December 23 produced its first charge sheet in the special anti-corruption court against 23 officials of the Jammu and Kashmir Bank for making illegal appointments in the premier financial institution. 

According to ACB, the charge sheet was presented on in the court of R.N. Wattal, Judge, special anti-corruption court, against 23 officials of J&K Bank.  With a network of over 450 branches, J&K bank has the largest presence in the financial sector of Jammu and Kashmir and is seen as the commercial backbone of the Union Territory.

23 accused named in the Anti-Corruption chargesheet

Pervez Ahmad
J&K Bank Chairman, Pervez Ahmad has been removed by the government with immediate effectTwitter

Two former chairmen namely Sheikh Mushtaq Ahmed and Parvaiz Ahmed Nengmroo charged for making illegal appointments in the bank. Two former Vice Presidents of the bank, Mohd Ayoub Wanchoo and Fayaz Ahmed. The 23 accused in the charge sheet include 12 serving officials of the bank, five retired employees and six beneficiaries.  

The case was sent to Government for accord of prosecution sanction which was received against the following in-service employees: 

(i) Mohd Ayoub Wanchoo, the then Vice President Corporate Headquarters presently Zonal Head Office, Anantnag. 

(ii) Fayaz Ahmad Bhat, the then Vice President HRDD Corporate Headquarters Srinagar presently Vice President Deposit Liability Management Corporate Headquarters, Srinagar presently Vice President Deposit Liability Management Corporate Headquarter Srinagar. 

(iii) Showkat Ahmad Bhat the then Executive HRDD presently Senior Executive at RCC Delhi

(iv) Mohd Yahya Rafiqui, the then Executive HRDD presently Sr. Executive Branch Unit Alamgiri Bazar Srinagar

(v) Arshad Hussain Dar, Executive HRDD presently vice President J&K Bank Financial Servics Ltd. Corporate Headquarter Srinagar.

(vi) Asif Iqbal Raja, the then Sr. Executive HRDD Corporate Headquarters presently at RCC Srinagar.

(vii) Syed Irfan Latief the then Executive HRDD Central office presently Executive at Branch Unit Nalamar Road Srinagar.

(viii) Parvaiz Ahmad Baba, Executive HRDD Corporate Headquarters Srinagar.

(ix) Mohd Maqbool Lone S/o Mohi-ud-Din Lone, President HRDD Corporate Headquarters Srinagar

(x) Imran Mattoo the then Jr. Executive HRDD Corporate Headquarters Srinagar, presently Associate Executive J&K Bank Branch Upper Sahu Srinagar

(xi) Shakoor Ahmad Bhat, Sr. Executive Corporate Headquarters Srinagar, presently Sr. Executive Customer Care, Corporate Headquarters Srinagar

(xii) Mohd Aslam Ganiee the then Assistant Vice President HRDD Corporate Headquarters Srinagar presently Head Cluster Office Pulwama in case FIR No. 10/2019 P/S ACB Srinagar.

Case of illegal appointment proved against 5 retired employees. The details of retired employees are as follows:

(xiii) Mushtaq Ahmad Sheikh S/o Mohd Akbar Sheikh R/o BandiSaral (Uri) Baramulla A/P Gulbarg Colony Hyderpora near Masjid Bilal the then Chairman JK Bank.

(xiv) Ab. Rouf Bhat S/o Bashir Ahmad Bhat R/o H.No. 107 AlfarooqColony, Hakeem BaghRawalpora the then Executive President.

(xv) Parvaiz Ahmad Nengroo S/o Mohammad Amin Nengroo R/o KapranShopian (ex. Chairman JK Bank).

(xvi) VagishChander Sharma S/o Late ShriDurgaDutt Sharma R/o 44/1 Sawran Bihar Police Colony Jammu (Executive President HRD JK Bank) now retired.

(xvii) Abdul Rashid Shigan S/o Mohammad ShabanShigan R/o S.D. Colony Batmaloo Srinagar (Executive President retired).

The beneficiaries

(xviii) Mohammad Iqbal Wani S/o Ali Mohd Wani R/o Tulwari Lanhgate Handwara Banking Attendant at J&K Bank Branch Kupwara Old Chowk.

(xix) Waseem Mehraj S/o Mehrajud Din Bhat R/o Sidiq Colony Sopore Banking Attendant at J&K Bank Branch Dangiwacha.

(xx) Anjuman Ara D/o Ghulam Mohammad Bhat R/o WataporaBandipora appointed as Assistant Banking Associate Bank (Code No. 18156).

(xxi) Faizan Ayaz S/o Late Ayaz Ahmad Chopan r/o PatushiaBandipora appointed as Banking Attendant Banking Code No. 24315.

(xxii) Mushtaq Ahmad Mir S/o Mohammad Ramzan Mir R/o PanjgamBandipora appointed as Assistant Banking Associate Banking Code No. 18168.

(xxiii) Haameem Nusrat D/o Nazir Ahmad Laway R/o Chawalgam Kulgam at present HIG colony Bemina Srinagar Bank Code No. 018250.

According to the statement, "The charge sheet of the case FIR No. 10/2019 against 23 accused was produced before the court of Sh. R.N. Wattal, Honb'le Judge Anti Corruption Court Srinagar today on 23-12-2019 and the next date of hearing has been fixed next year January 27." 

Among those politicians who reportedly influenced the bank officials to make illegal appointments were allegedly former Chief Minister Mehbooba Mufti and some former ministers of the then PDP-BJP state government.

What is the J&K bank scam? 

  • J&K Bank created unprecedented and illegal practice.
  • Made more than 3,000 backdoor appointments clandestinely, contrary to the rules and norms governing the subject.
  • Apart from the backdoor appointments, serious charges of financial irregularities which are being investigated by the ACB and chargesheets against those accused in these irregularities are likely to be filed subsequently.

In order to safeguard the interest of bank depositors/stakeholders, the Reserve Bank of India (RBI) appointed a special nominee on the bank's board of directors in addition to sacking the then Chairman Nengroo. The bank has assured all its depositors/stakeholders that the financial parameters of the bank are sound and there is no need for the bank's depositors to worry.