Srinagar: Anti Corruption Bureau (ACB) on Saturday formally arrested former executive president and ex-chairman J&K Bank, Parvez Ahmad Nengroo in connection with a case of tender fraud in housekeeping.
Sources told a News Agency that ACB arrested Parvez in connection with a case of awarding tenders of housekeeping to a Mumbai based Company M/s SILA Solutions Pvt. Ltd by not following the proper tendering norms, causing Rs. 6,29,56,575 loss to the Bank.
Sources said that the case against Parvez and four others was registered last year in October on the allegation that the officers and officials of J&K Bank awarded tenders of housekeeping to a Mumbai based Company M/s SILA Solutions Pvt. Ltd
