ACB Arrests Former Dy Mayor Sheikh Imran

Srinagar, December 27: A case under FIR 3/2019 was registered by ACB against former deputy mayor of Srinagar Shiekh Imran who. Is also the director of M/S Kehwa Square Pvt. Ltd. Bohri Kadal Srinagar, officers of J&K Bank and other govt officials for illegal appropriation of subsidy with inflated project costs for establishment of CA storage at Lassipora, Pulwama.
Further, Kehwa Group got their loan of Rs. 138 crores with J&K Bank, restructured for merely an amount of Rs. 78 crores by Sheikh Imran and partners of M/S Kehwa Square Pvt. Ltd in connivance with with JK Bank Officials.
ACB investigation has revealed that large amount of loan was diverted which was meant for construction of CA store. The case is under investigation with ACB to unearth further details of bank fraud. Sheikh and others have been taken into custody by ACB Srinagar for further questioning.