J&K Bank Headquarter Srinagar
J&K Bank Headquarter Srinagar

SRINAGAR — Anti-Corruption Bureau has registered an FIR against accused Surjeet Singh Sehgal, the then Executive President J&K Bank (now retired), Parvaiz Ahmad, the then Chairman of J&K Bank, Feroz Ahmad, the then Assistant Vice President and Sahil Vora and Rushabh Vora, Directors, M/S SILA Solutions Pvt. Ltd along with the residents of 508 Olympus Apartments 5C, Altamont Road Mumbai-400026 on the allegation that the officers and officials of J&K Bank Ltd awarded tenders of housekeeping to a Mumbai-based company M/S SILA Solutions Pvt. Ltd by not following the proper tendering norms and that has led to the losses to the bank to the tune of Rs. 6,29,56,575 from the date of award of the contract.

In a statement, the ACB said that the case pertains to allotment of tenders, for housekeeping of offsite ATMs, to a Mumbai-based Company i.e, M/S SILA Solutions Pvt Ltd, and by not following proper tendering norms and provided the contract to the said firm despite not falling into the criteria of any such allotment.

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“Earlier, a verification was conducted by Anti-Corruption Bureau Central into the matter wherein it was revealed that J&K Bank with HQ at Srinagar came out with a pan-India tender for housekeeping services in the year 2015. J&K Bank officials in contravention of tender conditions negotiated the rates with M/S SILA Solutions Pvt Ltd. The tender was awarded to M/S SILA Solutions Pvt Ltd in gross violation of General Financial Rules (GFR).”

“The contract of M/S SILA Solutions Pvt Ltd amongst other conditions included ATM cleaning and deployment of janitors. The additional management fee awarded to M/S SILA Solutions Pvt Ltd by J&K Bank was not part of original tender. The loss on the account of the tender has worked out to be more than Rs 6 crores. The loss is likely to go up as investigation progresses.”

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“In this connection, on 17.09.2020, P/S ACB Srinagar Kashmir conducted search at the residential house of Sh. Feroz Ahmad Kaloo, Assistant Vice President J&K Bank S/O Mohammad Maqbool Kaloo situated at Mohalla Muma Khan (Kathi Darwaza), opposite Psychiatric Hospital Rainawari Srinagar. Incriminating documents were seized during the searches.”

The anti-graft body said that the investigation of the case is in progress.

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