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CBI Books Ex JK Bank Chairman in 800 Crore Loan Case

Former JK Bank Chairman , 18 Others Booked in 800 Crore Loan Case


In a highest ever J&K Bank fraud case and as per latest news update, CBI has booked former JK Bank chairman Mushtaq Ahmad Shaikh and 18 others.

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The Rs 800-crore fraud had been caused due loans to REI Agro, which were issued in violation of guidelines, without tangible security and on fake documents, officials said.


The case was earlier probed by the anti-corruption branch of Jammu and Kashmir and it had found during its preliminary inquiry that loans worth Rs 800 crore were sanctioned to the group on the basis of fake documents between 2011 and 2013 and in violation of guidelines, the officials said.

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