Image Source: AMAR UJALA

The Anti Corruption Bureau (ACB) has arrested the director of Kehwa Square Private Limited and Imran Nazir, former deputy mayor of Srinagar, in a loan fraud case at J&K Bank. As early as 2019, the Bureau had registered a case against the Emraan and J&K bank officials and other government officials for the loan fraud in the name of subsidy in setting up Lassipora CA storage in Pulwama.

Imran took a loan of Rs 138 crore from the bank. The loan was taken for the construction of storage. There is a lot of fraud in it. On Friday, the bureau nabbed the accused for further investigation in the case. To complete the investigation, it was considered necessary to detain the accused.