Searches conducted at properties of sacked J&K Bank chairman

Having been hit by allegations of gross irregularities and misuse of his financial position the ex-chairman J& K Bank , Pervez Ahmed Nengroo’s private properties were raided by a team of the Anti-Corruption Bureau (ACB) on Wednesday.  The team accompanied by Magistrates and policemen carried out searches at three different locations including sacked chairman’s private residence. The searches were carried out at three locations including Nengroo’s private residence.

Nengroo was sacked by the Jammu and Kashmir government on June 8 after allegations of gross irregularities, corruption, and misuse of his official position during his tenure as the Bank’s Chairman.

He was replaced by an interim chairman while a search committee was set up to look for a new chairman and the managing director of the state’s premier financial institution.