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| SVO carries out simultaneous raids on houses of Nagar's brother, relative | | | EARLY TIMES REPORT
JAMMU, May 20: In a case of sanctioning of Rs 1 cr loan by state financial corporation (SFC) allegedly in violation of rules, state vigilance organisation (SVO) today carried out simultaneous raids on the houses of a brother of Nago and a close relative.
The SVO sleuths conducted simultaneous raids on the houses of Nago's brother Rakesh Choudhary and relative Ritesh Gupta, according to SVO sources.
Raids were also conducted on their GI pipes factory at Mishriwala, the sources added.
Sources said the SVO men raided the houses of Rakesh and Ritesh at Shastri Nagar and factory at Mishriwala and seized documents and files related to the SFC loan.
When the loan was sanctioned in 2009, Aiyaz Iqbal was SFC managing director, the sources informed.
Sources said there was a third defaulter and associate of Rakesh and Ritesh and raids were being conducted to trace him out.
The house of one Ashok Gupta was also raided in sector 6 of Trikuta Nagar but nothing was recovered from there.Sources said the SVO men had also seized relevant record from the SFC office.
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