x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Stop behaving like ‘feudal lord’: Imran Ansari tells Omar Abdullah | Satellite-based toll collection system to replace toll plazas: Nitin Gadkari | MHA extends validity of FCRA registered NGOs | India’s borders totally secure: Rajnath Singh | ‘Govt open to change in Agniveer scheme’ | CS reviews development of skilling portal by BISAG | Leopard snatches 5-year-old girl | Rains lash Kashmir, more in offing | Notification issued for Jammu Lok Sabha seat | 11 injured in Poonch accident | Properties of drug peddler attached | JKBOSE reschedules 11th class exams | Yoga competition held | BLOs imparted Training about electoral process at different assembly segments of Kupwara | SVEEP programme Galvanizes Participation in electoral process at High School Nagulta | Missing girl traced out within 2 days, reunited with family | Police Reunites missing girl with Family | PCCF chairs 8th UT Level Monitoring Committee meeting | Police thwarts bovine smuggling bid, Apprehends Culprits | DEO flags-off SVEEP Van for Voter awareness in Kulgam | Chorus Grows Louder | Hilly, rural areas confronting development deficit under J&K Govt: Sadhotra | Ex-Army Chief VK Singh Sabotaged Revocation Of AFSPA In J-K, Alleges Omar Abdullah | CUK declares Mar-29, 30 as working days for all non-teaching staff | RGCN organizes workshop on Nursing edcuation | Secretary Sports Council Inaugurates Softball/Baseball5 Championship 2023-24 | GDC Vijaypur Starts Lecture Series | GDC Ramnagar conducts programme on Nasha Mukti Se Yuva Shakti | SPMR College Organizes SVEEP Programme Promoting Voter Awareness | Khour Holds Successful Anti-Drug Awareness Programme | Students Rally Against Drug Abuse in Dewan Devi Public School Event | Psychological Support for Young Adults: Lecture at GDC Bishnah | GDC Udhampur organizes awareness programme | Jammu Police started proceedings under section 82 CrPc against a Psa Absconder | Amit chairs meeting in Ladakh | Two persons injured in scuffle in Bemina Srinagar | Back Issues  
 
news details
Bank fraud case: Enforcement Directorate raids former minister son Hilal Rather
8/6/2020 11:55:27 PM
Early Times Report

Jammu, Aug 6: The Enforcement Directorate (ED) on Thursday conducted multiple raids in four cities in connection with a money laundering case linked to a bank fraud probe against Hilal Rather, the son of former Jammu and Kashmir minister Abdul Rahim Rather, officials said.
They said the raids were carried out at 16 locations in Kashmir, Jammu, Delhi and Ludhiana.
The exercise has been undertaken to collect evidence, they said.
The central probe agency has filed a money laundering case against Hilal Rather and others, under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department probe against him that pertains to a Rs 177-crore alleged bank fraud.
The CBI has alleged that Hilal Rather entered into a criminal conspiracy with the then officials of the Jammu and Kashmir Bank to get loans of about Rs 177.68 crore in alleged violation of rules and guidelines.
His father, a former finance minister of the erstwhile state of Jammu and Kashmir, is a National Conference (NC) leader.
“The loans that were sanctioned for construction of flats were allegedly diverted and misappropriated by the accused using the bank accounts of his employees,” the CBI had alleged.
It was further alleged by the CBI that the accused submitted forged certificates and bills to the bank.
In a charge sheet filed before special court in Jammu this March, the CBI had named the then branch heads of J&K Bank, New University Campus branch, Iqbal Singh and Arun Kapoor apart from Hilal Rather.
Detailing alleged omissions on part of bank officials, the CBI had said they “did not” verify certificates and helped Rather in siphoning off the loan amount and laundering of money.
The I-T Department too had raided him in June last year on charges of alleged tax evasion.
“During the search, it was detected that the tax evader (referring to Hilal and his group) has been given illegal benefit of Rs 60 crore by J&K Bank. His outstanding loan of Rs 190 crore was settled at Rs 130 crore, although he did not deserve any concessional treatment,” the Central Board of Direct Taxes had then said in a statement.
The CBDT is the policy-making body for the I-T Department.
Referring to Hilal, the CBDT statement has alleged that “he is also holding and operating a foreign bank account”.
“Neither his interest in the Dubai company nor the foreign bank account has ever been disclosed by him in his tax returns,” it said.
It added that Hilal and his group “sold/booked part of his real estate project of Paradise Avenue near Jammu against unaccounted cash.”

  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU