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Detection of Rs 1100 cr JK Bank scam only tip of iceberg: Harsh 10/20/2019 10:08:23 PM Early Times Report JAMMU, Oct 20: Describing the detection of Rs1100 crore fraud in J&K Bank as a tip of iceberg, Harsh Dev Singh Chairman JKNPP and former Minister today said many more skeletons would tumble down the cupboard once a detailed probe was conducted into all fishy transactions executed by the bank. He said that the said bank had been used as a cash cow by the successive governments and their corrupt leadership thereby swelling their fortunes at the cost of the public funds. He said that selective targeting of a few business houses while granting immunity to some top politicians by the ACB would be strongly resisted by the Panthers Party. While seeking a detailed investigation into the loans secured by the top politicians and subsequently declared NPAs, he regretted that the names of several top leaders of successive ruling parties had figured several times in the media for bank frauds but the ACB had failed to lay its hands upon these powerful and influential people. Accusing the J&K Bank of out rightly refusing to provide reply towards the RTI application filed by Panthers Party a couple of months ago, Harsh Dev Singh revealed that he had sought the details of willful defaulters, NPAs, bad debts, over-valued mortgages, unverified investors, etc., with particular reference to the role of ministers, MLAs and top bureaucrats in the past 4 years. "Shockingly, the bank failed to supply the requisite information under the pretext of misleading jargons of 'commercial confidence exempt' and matters of 'fiduciary relationship", Harsh brought to fore. Urging upon the Governor to take cognizance of the grave offence of the JK Bank, Singh said that the detection of the latest Rs 1100 cr scam in the bank was only a tip of the iceberg. He reiterated his demand of high level probe into all other scams which had brought disgrace to the bank having government's share of 59 percent in the equity.   Share This News with Your Friends on Social Network     Comment on this Story

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