Former J&K Bank chairman arrested in connection with illegal allotment of tender case

Former chairman of J&K Bank Parvez Ahmad Nengroo was arrested in connection with a case of illegal allotment of tenders for housekeeping, the Anti-Corruption Bureau (ACB) said on Saturday.

The Anti Corruption Bureau (ACB) on Saturday arrested Parvez Ahmad Nengro, former Jammu and Kashmir Bank Chairman and Managing Director (CMD), in connection with the illegal allotment of tenders for housekeeping that led to a loss of crores of rupees to the bank. The ACB had registered a case in October last year against a private firm and three former bank officials including Nengroo for allegedly causing a Rs 6.92-crore loss to the bank by not following tendering rules. "Nengroo has been arrested in connection with the investigation of a case that pertains to illegal allotment of tenders by Jammu and Kashmir Bank regarding housekeeping, to a Mumbai based Company (M/S SILA Solutions Pvt. Ltd) by not following proper tendering norms as provided in the contract," the ACB said in a statement.