SRINAGAR: Anti Corruption Bureau (ACB) on Saturday formally arrested former executive president and ex-chairman J&K Bank, Parvez Ahmad Nengroo in connection with a case of tender fraud in housekeeping.
Officials said the tenders of housekeeping were awarded to a Mumbai based Company M/s SILA Solutions Pvt. Ltd while sidelining the proper tendering norms, causing Rs 6,29,56,575 loss to the bank.
A case against Parvez and four others was registered in October last year over the allegation.
On Saturday, a team from ACB Kashmir raided Nengroo’s residence in Srinagar and arrested him formally in the case, officials added.
An ACB official also confirmed the arrest of Parvaiz and said that further details will be shared later as investigation into the case is on.
