Image Source: Agencies

The Authorization Directorate (ED) has temporarily joined a few enduring properties, houses worth Rs 2.45 crore, connected with Mohammad Shafi Dar and Abdul Hamid Hajam, in the Jammu and Kashmir State Helpful Bank (JKSTCB) credit misrepresentation instance of 2019.

A credit to the tune of Rs 223 crore was false endorsed and dispensed to a phony helpful society named Waterway Jehlum Agreeable House Building Society, Shivpora in Srinagar, by the then Executive of the JKSTCB and others.

Rs 223 cr was endorsed to counterfeit society

A credit to the tune of Rs 223 crore was false endorsed and dispensed to a phony helpful society, Stream Jehlum Helpful House Building Society, Shivpora in Srinagar.
The ED had started examination based on a FIR and resulting chargesheets documented by LEA, Srinagar.
The then Executive of the Jammu and Kashmir State Agreeable Bank (JKSTCB) was supposedly engaged with the 2019 case.
This is the second temporary connection for this situation. Prior, unflinching properties worth Rs 193.46 crore were temporarily appended in Dec 2023.
Likewise, in January this year, indictment under the PMLA was sent off against six people under the steady gaze of a PMLA court in Srinagar.

The ED had started examination based on a FIR and subsequent chargesheets documented by LEA, Srinagar, summoning different Segments of the Ranbir Punitive Code (RPC) and the Jammu and Kashmir Avoidance of Debasement Act (JK PC Act) Samvat-2006 against five people.

The five blamed were recognized as Hilal Ahmad Mir, Administrator of Stream Jehlum Agreeable House Building Society, Abdul Hamid Hajam, Secretary of Waterway Jehlum Helpful House Building Society, Mohammad Mujeeb Ur Rehman Ghassi, the then Enlistment center of Agreeable Social orders, Jammu and Kashmir, Syed Ashiq Hussain, the then Delegate Recorder of Agreeable Social orders, J&K, and Mohammad Shafi Dar, the then Executive of the JKSTCB.

The test had uncovered that Hilal Ahmad Mir, Abdul Hamid Hajam, Mohammad Mujeeb Ur Rehman Ghassi, Syed Ashiq Hussain and Mohammad Shafi Dar, in conspiracy with one another, had figured out how to deceitfully get credit of Rs 250 crore endorsed from the JKSTCB for the sake of a phony society, Stream Jhelum Co-usable House Building Society. They supposedly redirected this sum as installments made towards acquisition of land bundles, with no guarantee security and overlooked every one of the administrative methods in a criminal trick connecting with the offense of tax evasion disregarding the Counteraction of Tax evasion Act (PMLA).

This is the second temporary connection for this situation. Prior, ardent properties worth Rs 193.46 crore were temporarily joined in December 2023.

Likewise, in January this year, arraignment under the PMLA was sent off against six people, including the previously mentioned denounced, under the steady gaze of a PMLA court in Srinagar, which has taken cognisance of the equivalent.