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| IT raids in Srinagar is only tip of iceberg: Brig Anil | | | Early Times Report
Jammu, June 12: Bharatiya Janata Party (BJP) welcomes the conduct of raids by the Income Tax Department in the premises and offices of a prominent citizen of Srinagar, stated Brig Anil Gupta, State Spokesperson of the Party.
The facts revealed by the IT department are eye opener for the people of the state and just a tip of the iceberg, asserted Brig Gupta. The raids follow the sacking of the former Chairman-cum- Managing Director of J&K Bank, Pervez Ahmad and have exposed the way the bank used to operate to help the rich and influential at the expense of the ordinary citizens.
While the ordinary citizens especially farmers, traders, shopkeepers and artisans were served legal notices and harassed for default in repayment of loans, the wealthy and influential with political patronage were allowed to negotiate the repayments with substantial subsidies asserted Brig Gupta.
The most damaging and alarming information revealed is that repayment of negotiated amount of Rs 50.34 crore was also paid by taking fresh loan of similar amount from the Bank, rued Brig Gupta. The financial irregularities carried out by the bank to benefit a few influential families and political leaders and its opaque system of functioning needs thorough investigation, demanded Brig Gupta.
The suspicious role of the Bank in Hawala transactions and terror financing is a matter of grave concern and detrimental to national security, stated Brig Gupta.
The mere sacking of the previous MD is not the answer to the mesh of corruption and shady deals in which the J&K Bank was involved under political patronage, asserted Brig Gupta. |
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