New Delhi [India], March 22 (ANI): The Centre on Tuesday informed the Lok Sabha that selection of a total of 11,324 gazetted, non-gazetted and class-IV posts have been completed in the Union Territory of Jammu and Kashmir since the abrogation of Article 370 and 35-A from the erstwhile state in August 2019.

New Delhi Mar 18 PTI The CBI has booked former JK Bank chairman Mushtaq Ahmad Shaikh and 18 others for a Rs 800 crore loss to the bank caused due loans to REI Agro which were issued in violation of guidelines without tangible security and on fake documents officials said In addition to officials of the bank the Central Bureau of Investigation CBI has also booked REI Agro chairman Sanjay Jhunjhunwala and vice president and managing director Sandeep Jhunjhunwala they said on Friday 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 This caused a loss of Rs 800 to the bank they said The Mumbai-based Mahim branch of the bank had sanctioned Rs 550 crore of loans while the Vasant Vihar branch in Delhi had sanctioned Rs 139 crore in their favour against the supplier bill discounting facility and takeovers The company had approached the banks Mahim and Vasant Vihar branches for sanctioning of advances for making payment to farmers as per terms and conditions laid down in the loan sanction order of the bank The farmers were supposed to provide paddy to the company in turn the company had to sell the produce paddy and the remittance thereof had to be deposited in the bank as instalments against advances received by the company the FIR in the case The bank authorities and the company knew that the loan amount had to be disbursed among farmers for production of paddy But this was brazenly violated by the company in connivance by the bank authorities who allowed disbursement of loan through joint liabilities groups JLGs though the company had already received paddy and was not entitled to disburse the loan under such circumstances As per probe conducted during PE the JLGs were in fact non-existing entities whose credentials and antecedents had never been verified by the bank The objective was to facilitate the company to divert the loan amount for its own benefit the FIR said The bank also violated NABARD guidelines in which members of JLGs which is a group of farmers should be from the same areavillage but this aspect was deliberately and with malafide intentions ignored by the banks officers the FIR alleged The preliminary enquiry findings of the anti-corruption bureau state that It was surprising that there was no tangible security taken by the bank in these cases These loans and advances were sanctioned and disbursed by the officials of the JK Bank branch in Mahim Mumbai and Vasant Vihar New Delhi in connivance with and under patronage of then chairman JK Bank Mushtaq Ahmad Sheikh under single conspiracy spread over several years the FIR said The FIR said it was done in a planned and pre-designed manner by misuse and abuse of their authority as public servants of the bank just to serve the interest of the promoters of the company -- Sanjay Jhunjhunwala and Sandeep Jhunjhunwala PTI ABS ANB ANB

Jammu Jan 25 PTI Cautioning people about a section in society which has always been misleading them about imaginary issues like demographic changes Jammu and Kashmir Lt Governor Manoj Sinha on Tuesday said a target of investment proposals worth Rs 70000 crore has been achieved within a year after 2019 historic transformative changes He said the central government under the strong and able leadership of Prime Minister Narendra Modi took the bold and decisive step of breaking the shackles erected in the path of development of Jammu and Kashmir which is fast moving towards becoming a powerful and self-reliant Union Territory After the historic transformative changes in August 2019 when centre abrogated Article 370 and bifurcated the erstwhile state into two UTs Jammu and Kashmir is poised to become the latest success story among Indian states and a model of socio-economic development for the country Sinha said in his Republic Day message Extending his heartiest greetings and best wishes to all on the eve of the 73rd Republic Day the Lt Governor said despite challenges efforts are underway for turning Jammu and Kashmir into a preferred destination for industrial investment and opportunities The industrial revolution started just a year ago has achieved much more than what the Union Territory had clocked in the last 72 years After the implementation of the new industrial scheme investment proposals worth Rs 48000 crores have been received he said He said the land use change policy which was a major impediment for the industrial development of the region has been simplified which is likely to attract more investment However the people are being misled on this issue too he said without naming anyone but apparently referring to the criticism by regional parties especially the National Conference NC and the Peoples Democratic Party PDP The Lt Governor assured the land owners and farmers that all these changes have been effected with the sole aim of empowering them There is a section in the society which has always been misleading the people about imaginary issues like demographic change and on this pretext the most hardworking and needy class of people had been deprived of alienated their own land or even using it as per their wishes or requirements The Lt Governor reiterated the administrations commitment to promoting local businesses in the real estate sector Jammu and Kashmir recently hosted the first-ever historic Real Estate summit in December 2021 in which investment proposals worth Rs 18300 crore were finalized while the investment proposals attracted by JK in the recently concluded Dubai Expo stands at Rs 3000 crore In total a target of investment proposal worth Rs 70000 crore has been achieved within a year the Lt Governor said He said the government is committed to build a strong Jammu and Kashmir and we will continue to march ahead with Mantra of 4 Ps -- Peace Progress Prosperity and People first The Jammu and Kashmir Private Industrial Estate Development Policy has been introduced which incorporates mechanisms for public-private partnership in the industrial sector The Lt Governor highlighted the co-existence of various religions enriching and diversifying Jammu and Kashmirs cultural heritage and making the Union Territory an example of immortal organic composite Indian culture Giving details of the reforms made in the last 30 months the Lt Governor said the government is developing Jammu and Kashmir as the piece of Indian culture and ethos that has the capability to provide opportunity to industries to compete connect and collaborate with its readily available abundant resources JK is fast moving towards becoming a powerful and self-reliant Union Territory by improving the standard of living of farmers youth women labourers and every citizen of Jammu and Kashmir he said On the governments efforts in employment generation in the last one and a half years the Lt Governor said about 11000 appointments have been made in various government departments in a fair and transparent manner which was unprecedented in the history of Jammu and Kashmir For the first time children from the disadvantaged and poor sections have secured jobs on the basis of merit turning their dreams into reality he said Another 20323 additional posts at various levels have been identified and referred to the Jammu and Kashmir Services Selection Board for recruitment Besides 1850 appointments have been made in JK Bank at various levels in a fair and transparent manner he said As many as 137870 youths have been provided assistance in their entrepreneurial ventures under various self-employment generation schemes and programmes the Lt Governor said PTI TAS AB CK

New Delhi Sep 30 PTI The Enforcement Directorate ED has attached assets worth over Rs 145 crore of a Bengaluru-based spices company in a money laundering probe linked to an alleged loan fraud in the JK BankThe agency said in a statement issued on Wednesday that a factory building shops flats and lands of the company S A Rawther Spices Pvt Ltd and others were provisionally attached under the Prevention of Money Laundering Act PMLAThe total value of the attached properties is Rs 14526 crore it said The ED case stems from an FIR filed by the anti-corruption bureau of the J-K Police against the company and its promoter director Syed Anish Rawther the then manager of JK Bank branch located at BU Infantry Road in Bengaluru and other officials of the same bank in August 2019In the FIR it was alleged that S A Rawther Spices Pvt Ltd defaulted loan and was declared NPA non performing asset in September 2017Net amount of Rs 28581 crore was outstanding with the company besides unapplied interest of Rs 6691 crore against mortgaged collateral property of Rs 171 crore the ED said in a statementDuring the same period it said the firm also borrowed Rs 165 crore from HDFC Bank and Rs 25 crore from RBL Bank and mortgaged the same property which was already mortgaged with JK Bank Ltd The then branch manager of JK Bank in connivance with promoterdirector of the company caused loss to the state exchequer to the tune of Rs 35272 crore the agency claimedThe company obtained multiple loans and used them to export goods mostly to related parties and the export proceeds were never realised in India it claimedThe company also diverted the funds to sistergroup concerns by adjustment of their overdue export bills by releasing fresh packing credit Inland Letters of Credit ILC towards dealings with sister concerns by way of accommodation of bills under garb of ILC It was found that S A Rawther Spices Pvt Ltd has availed packing credit loans from JK Bank and used the same for servicing instalments towards term loan account of Central Trade Agency Pvt Ltd which is a sister concern of the former company it said PTI NES DV DV

Srinagar Sep 21 PTI Union Minister of State for Finance Bhagwat Kishanrao Karad on Tuesday visited the corporate headquarters of Jammu and Kashmir Bank here and interacted with the financial institutions senior management The minister is on a visit to J-K as part of the Centres special outreach programme for the union territory Acknowledging the banks vital role in the overall economic development of J-K Karad expressed satisfaction over its recent performance and overall functioning Speaking on the occasion the minister said Prime Minister Narendra Modi is very concerned about business and its progress across the country and we have clear instructions to hear from businessmen in J-K I am happy to see that J-K Bank is doing a wonderful job here he said The minister said J-K is gifted with natural resources has a great scope for Ayurveda medicines and other products and the aspiring entrepreneurs of the valley should take advantage of the schemes that the concerned union ministry has devised for the sector He also held a meeting with a delegation comprising members of industry associations in presence of Additional Chief Secretary Finance Atal Dulloo and J-K Bank CMD R K Chhibber Briefing the minister about the banks history CMD Chhibber highlighted its systemic role in the overall economic functioning of the region besides emphasizing upon its major contribution in the financial transformation of J-K and Ladakh for over eight decades Additional Chief Secretary Finance Dulloo said the government was formulating various schemes to help the local businesses Owing to Covid-19 Rs 1350 crore rehabilitation package was announced by UT Government to revive businesses in JK which included 5 per cent interest subvention besides certain waivers of PDD and PHE dues GST reimbursement is also being done regularly he said PTI SSB MIJ MR MR