Cong Ex-MLA’s wife gets Rs 5cr loan without mortgage, guarantor; BJP demands inquiry

SRINAGAR: The J&K BJP leadership has sought an inquiry by the Anti-Corruption Branch (ACB) into allegations of J&K Bank advancing a loan of Rs 5 crore to the wife of former Congress MLA Shoaib Lone without any mortgage or guarantor.


“Shabana Lone, wife of Shoaib Lone, managed to get Rs 5 crore loan in May last year from J&K Bank’s Barzulla branch in Srinagar without following the proper procedure of mortgaging property or having a guarantor. Bank rules were brazenly flouted and there is no evidence as to how the loan was sanctioned for Shabana, who had no business unit nor a genuine case to borrow such a huge amount,” J&K BJP spokesperson Altaf Thakur alleged. He demanded stern action against the conniving bank employees including then zonal head of central Kashmir in Srinagar,

Tabassum Nazir

.

Shoaib Lone, who had won from the Sangrama constituency in

Baramulla

on a Congress ticket in 2006, had resigned from the party in February this year to join the Altaf Bukhari-headed APNI.

Thakur said when the “scam” took place, Pervez Ahmed Negroo, the sacked chairman of J&K Bank, was heading the institution and Nazir was the zonal head in Srinagar. Negroo was removed last year on charges of large-scale irregularities as well as making backdoor appointments in the bank. An ACB investigation is already underway in Negroo’s case.

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