Examiner News Desk | Srinagar:
The Economic Offences Wing (EOW) of the Crime Branch, Jammu, has registered a criminal case in connection with alleged financial irregularities and fraudulent loan transactions at two branches of the Jammu and Kashmir Grameen Bank.
The case has been registered under Sections 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code (IPC) following complaints forwarded by the Crime Headquarters through the Director of the Anti-Corruption Bureau (ACB). The complaints were filed by the bank’s Chief of Audits, Inspection and Vigilance and relate to alleged fraud at the Kaluchak and Surankote branches.
According to the Crime Branch, an internal enquiry at the Kaluchak branch uncovered alleged irregularities involving 58 loan accounts under 15 Joint Liability Groups (JLGs), along with two Cash Credit Limit accounts, which were reportedly opened and operated without the knowledge or consent of the account holders. The suspected fraud is estimated at nearly ₹42 lakh.
Investigators said around ₹12 lakh was allegedly transferred to bank accounts reportedly maintained in the name of the late Senior Manager, Bhagwan Singh Saini, while the remaining loan amounts were allegedly withdrawn through ATM transactions.
The enquiry further revealed that a daily-wage employee engaged at the branch allegedly admitted to using ₹2 lakh from one Joint Liability Group loan account for personal purposes. Officials said recoveries have since been made in two accounts.
In a separate complaint concerning the Surankote branch, allegations have been levelled against Branch Head Rohit Kumar and others over unauthorised transactions and debits amounting to ₹7.37 lakh. The complaint also alleges the fraudulent sanction and withdrawal of loans worth nearly ₹19 lakh through five fake loan accounts allegedly opened without the knowledge or consent of the borrowers.
According to the enquiry, these accounts were subsequently shown as settled or closed to reconcile the branch’s cash position.
The Crime Branch said a preliminary verification established a prima facie case of cognisable offences, prompting the registration of a formal criminal case against Rohit Kumar and other suspected persons. A detailed investigation has been initiated to ascertain the extent of the alleged fraud and identify all those involved.
Senior Superintendent of Police, Crime Branch (EOW), Jammu, Faisal Qureshi appealed to members of the public to report similar instances of financial fraud, assuring that appropriate legal action would be taken against those found responsible.
