• The complainant has alleged that since 2014, more than 3,000 illegal appointments of political workers had been done, causing a heavy strain on the bank’s finances. He also stated that 150 persons had been illegally appointed as banking attendants and assistant banking associates since October 2017
• Besides, the ACB is investigating loans worth hundreds of crores, allegedly allotted and liquidated without formalities in “brazen violation” of standard operating procedures

As JK Bank continues to be under the scanner of anti-graft agencies, political parties PDP and BJP have reportedly been the biggest beneficiaries of the bank’s largesse, extended to them through illegal appointments of their workers.

The Anti Corruption Bureau (ACB) is conducting an investigation into the illegal appointments at the bank, after Syed Kousar of Dandoosa Rafiabad in Baramulla district alleged that banking attendants (BA) and assistant banking associates (ABA) were appointed through the backdoor.

Kousar said since 2014, more than 3,000 illegal appointments of political workers had been done, causing a heavy strain on the bank’s finances. “You (ACB) can visit and enquire from various bank branches and find out about these fraud appointments,” Kousar has stated in his June 8 complaint.

Citing an example, the complainant said the Dangiwacha Rafiabad branch of J&K Bank had seen illegal appointments of seven persons.

The J&K government, which holds a 59 per cent stake in the bank, removed its chairman Parvez Ahmad on Saturday and raids were carried out by the ACB at the bank headquarters.

Apart from illegal appointments, the ACB is investigating loans worth hundreds of crores, allegedly allotted and liquidated without formalities in “brazen violation” of standard operating procedures.

The complainant stated that 150 persons had been illegally appointed as banking attendants and assistant banking associates since October 2017. He alleged that the former chairman had refused to regularise services of hundreds of meagerly paid sweepers, citing financial constraints. “Then how come he made 3,000 fraud appointments of relatives of PDP leaders in the bank,” he asked, seeking investigation into the illegal appointments.

The FIR registered in this regard reveals that ACB, after careful examination of the complaint, has reason to believe that the allegations levelled by the complainant disclose cognizable offence, which warrant registration of FIR.

“The allegations reflected in the complaint disclose the commission of criminal misconduct by officers of the J&K Bank, which constitute an offence under Section 5 (1) (d) of Prevention of Corruption Act, Somvat 2006, and is punishable under Section 5 (2) of the Act,” reads the report.

The PDP, which came to power in 2015 after accusing the National Conference of corruption, was embroiled in controversies, including backdoor appointments of their workers and facilitating loans to influential people through J&K Bank.

Zubair Khan, Senior Superintendent of Police, ACB, said the investigation into the illegal appointments was on.