The Directorate of Enforcement (ED) has provisionally attached immovable property in the form of land measuring 257 Kanal and 19 Marlas in Shivpora, Srinagar, which is valued at Rs. 193.46 Crore, under a PMLA case connected to financial fraud perpetrated with J and K State Co-operative Bank (JKSTCB). Under false pretenses, a fictitious cooperative society called River Jehlum Co-operative House Building Society, Shivpora, Srinagar, (J and K), received a loan in 2019 totaling Rs. 250 Crore (disbursement amount Rs. 223 Crore), approved by the former Chairman of J and K State Co-operative Bank (JKSTCB) & Others.
The Jammu & Kashmir Prevention of Corruption Act (JK PC Act) Samvat 2006 (Corresponding to IPC and PCA) and various sections of the Ranbir Penal Code (RPC) and subsequent chargesheets filed by LEA, Srinagar, were the basis for the ED’s investigation into five accused individuals: Abdul Hamid Hajam, the Secretary of the River Jehlum Co-operative House Building Society;Syed Ashiq Hussain was the Dy at the time, and Muhammad Mujeeb Ur Rehman Ghassi was the Registrar of Cooperative Societies, J and K. Registrar of Cooperative Societies, J and K); and Hilal Ahmad Mir, the Chairman of the River Jehlum Co-operative House Building Society.
The ED’s investigation showed that the aforementioned immovable property was purchased using the proceeds from the aforementioned scam. Prior searches and surveys were also carried out at several sites, and digital gadgets and documents containing damning information were taken as evidence. Two more people were detained and placed in judicial detention until December 20, 2023: Hilal Ahmad Mir, the chairman of the fictitious River Jehlum Co-operative House Building Society, and Mohd Shafi Dar, the chairman of the J and K State Co-operative Bank (JKSTCB). Additional research is currently being conducted.
