Banking News

Former J&K Bank Chairman Parvez Ahmad Nengroo Arrested In Tender Fraud Case


Former J&K Bank Chairman Arrested In Tender Fraud Case

Former J&K Bank Chairman Parvez Ahmad Nengroo was arrested in illegal allotment of tender case (File)


Former chairman of J&K Bank Parvez Ahmad Nengroo was arrested on Saturday in connection with a case of illegal allotment of tenders for housekeeping that led to a loss of crores of rupees to the bank, the Anti-Corruption Bureau (ACB) said.

The ACB had registered a case in October last year against a private firm and three former bank officials, including Ahmad, for allegedly causing a Rs 6.92-crore loss to the bank by not following tendering rules.

“Nengroo has been arrested by ACB in connection with the investigation of a case that pertains to illegal allotment of tenders by Jammu and Kashmir Bank regarding housekeeping, to a Mumbai based Company (M/S SILA Solutions Pvt. Ltd) by not following proper tendering norms as provided in the contract,” the ACB said in a statement in Srinagar.

The statement said due to not following the proper tendering processes, improper ATM cleaning, undue addition of the Management Fee and other omissions and commissions detected during the investigation, the J&K Bank suffered losses worth crores of rupees from the date of award of the contract.

Besides this case,  the ACB said charge sheets in connection with another case registered a year earlier have already been filed before the Anti-Corruption Court against Nengroo.

The case relates to illegal appointments in J&K bank which suffered a loss of more than Rs 250 crore on account of salary paid to these illegal employees over the period.

Besides Nengroo, the ACB has named Sahil Vora and Rishabh Vora, directors, SILA Solutions Pvt Ltd, Surjeet Singh Seghal, the then executive president of J&K Bank (now retired) and Feroz Ahmad, the then assistant vice-president, in the tendering fraud.


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