Anti Corruption Bureau Jammu has registered a case against Anoop Bhat, the then Branch Manager J&K Bank Residency Road, politician Vikram Malhotra and his brother Aditya Malhotra for causing loss of Rs 5 crore to the J&K Bank.
According to the ACB, during the investigation of case FIR No. 07/2020 registered against J&K Bank officials namely Anoop Bhat, then posted Branch Head J&K Bank Residency Road and others, scrutiny of the term account of M/s A3 Infrastructures Pvt. Ltd (a sister concern of Aditya Malhotra) was conducted and it came to the fore that a term loan of Rs 5 cr was sanctioned vide reference No. JKB/ADV/RRD/JMU/ dated 24.07.2013 in favour of M/s A3 Infrastructure Pvt Ltd for construction of ware housing project at Sehora, Jammu.
On scrutiny of the account statement of the borrower, it was noticed that whole loan amount was disbursed within span of seven months in favour of M/s A3 Infrastructure Pvt. Ltd owned by Aditya Malhotra and his brother namely Vikram Malhotra (Promoters, Directors of the borrower company) and others in blatant violation of all disbursement and pre-disburse conditions of the sanctioned loan.
During the course of enquiry, it came to the fore that maximum amount of loan was transferred into the account of M/s Ann Account, a sister concern of Aditya Malhotra from where the major portion of disbursed loan amount was withdrawn in cash.
It has also surfaced that despite disbursement of loan amount, no construction of godown was raised by M/s A3 Infrastructure Pvt. Ltd resulting in cancellation of contract by FCI and consequently no rentals accrued in favour of the firm and finally the loan account turned NPA, which resulted in loss of Rs 5 crore to the J&K Bank.
In this way, the officers/officials of the J&K Bank namely Anoop Bhat, then posted as Branch Head J&K Bank Residency Road Jammu A/P posted at CHQ J&K Bank Srinagar and others have in furtherance of criminal conspiracy hatched with Aditya Malhotra and Vikram Malhotra, Promoters and Directors of M/s A3 Infrastructure Pvt. Ltd. and others, abused their official position and have thus conferred undue pecuniary advantage to the beneficiaries.(Jammu links news)