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| Parvez Ahmad removed as J&K Bank Chairman, Chibber replaces him | | ACB sleuths carry out raids on Bank's corporate headquarters | | Jehangir Rashid
Early Times Report
SRINAGAR, June 8: Governor Satya Pal Malik led state administration cracked its whip on the head of Jammu and Kashmir Bank by ordering his removal and appointing a non-Muslim face as the head of the institution.
"Parvez Ahmad, chairman-cum-managing director, shall cease to be director on the Board of Directors of the bank and consequently be no longer the chairman-cum-managing director of the board," an order issued by Additional Secretary, Finance, Vishal Sharma said here, announcing the appointment of R K Chibber as the bank's interim chairman and the managing director of the board of directors."
The order triggered a storm in the headquarters as it came as a big surprise for all the staff members of the J&K Bank headquarters at Dalgate area of Srinagar who were on holiday as it was Second Saturday of the month.
In another surprising development, minutes after the removal of Parvez Ahmad as chairman of the Bank, Anti Corruption Bureau (ACB) sleuths raided the financial institution's corporate headquarters here.
Top officials said that ACB sleuths were looking for records of nearly 1,200 appointments allegedly made at the behest of political masters of the previous PDP-BJP government in the state and during Ahmad's tenure.
The sleuths raided the bank's corporate headquarters at Dalgate here soon after the state government dismissed Ahmad and appointed Chibber. Ahmed was appointed in 2016 as the chairman of the Jammu and Kashmir Bank. Reliable sources said that an FIR vice number 10/2019 has been lodged and investigations launched.
Sources revealed that the ACB sleuths have seized some documents from the Bank chairman's office and also from the office of Human Resource Section to collaborate the evidence about the backdoor appointments made during the PDP-BJP tenure. "Governor was kept in loop while conducting the raid on the JK Bank Corporate headquarters," they said.
JKPM president Shah Faesal hailed the governor's decision to remove the chairman. "Good that J&K Government has started clean-up of J&K Bank. In recent times this important State institution has been in news for all the wrong reasons."
He said the Government should take all measures to strengthen the Bank, bring in transparency & continue with District-wise recruitment. BJP spokesman Altaf Thakur posted: Now it is J&K Bank instead of apna bank.
Many users wrote that the bank bid the economic backbone of the state and targeting it means "harming us all".
An official spokesman said that keeping in view the concerns expressed in various quarters regarding the governance and functioning of the Jammu and Kashmir Bank, the government has decided to take long term measures to improve the functioning of the Bank, so that it becomes a shining example of a well managed Government Owned Bank.
"As a first step, the Government has decided to change its nominee Director on the Board of JK Bank, Parvez Ahmed, who is also the Chairman and Managing Director. Consequent to his replacement as a government appointed Director, the Board has taken on record cessation of Directorship of Parvez Ahmed as Chairman and Managing Director," said the official spokesman.
The spokesman said that government has appointed R K Chibber, Executive President of J&K Bank as the government nominee on the Board. The Board subsequently approved his appointment as an Interim Chairman and MD of the Bank. The Government has also decided to constitute a Search Committee to identify a suitable panel of names for being appointed to the Board of Directors of JK Bank and subsequently for consideration as Managing Director of the Bank.
After his removal, Parvez said that he has no regrets for being removed by the governor administration and is open to scrutiny for each of his service.
"Absolutely no regrets. Did my job most diligently, honestly and in the best interest of the institution. Open to scrutiny on each and every transaction I have done during my two decades of functioning in the bank," Ahmad tweeted. |
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