Former chief minister of erstwhile state of J&K Omar Abdullah was examined by the Enforcement Directorate in a money laundering case related to bank fraud. His questioning lasted for five hours. Later while speaking to the media, Omar Abdullah said, “I joined the investigation. They have not blamed me (for anything). If they will call me again, I will help them again. There are no allegations against me. It is a 10-12 year old case. They called me to question regarding this case. I will co-operate with them, if called again as well”
Omar was summoned to the ED’s New Delhi office. He joined the investigations at around noon. Sources say the case revolved around the J&K Bank management decision in 2008-10 to purchase a property for the bank at Bandra Kurla Complex in Mumbai at a very high price. This property worth approximately Rs. 180 crores was not required, according to the CBI.
Last November, the CBI registered an FIR against Akruti Gold Builders and unknown public servants. The ED took cognisance of it and registered a case of money laundering.
In the FIR the CBI had alleged that it was done to simply “confer undue benefit to the vendor”. “It was alleged that the property was not required as there was sufficient space and accommodation available with J&K Bank in Mumbai for banking operations and there were also allegations of quid pro quo for facilitating the sale deed,” said the CBI in its FIR.
“However in furtherance of a criminal conspiracy hatched among the officers/officials of J&K Bank and the owners of Akruti Gold BKC, to confer undue benefit upon the beneficiary owners and for personal pecuniary gains, officers/ officials J&K Bank approved the purchase of 65,065 sqft. area at Rs. 26,000 per sqft, on a highly exorbitant consideration of Rs. 1,80,57,05, 200 (Rs 180 crores) in blatant disregard to the tendering process with consequent loss to the bank exchequer” said the CBI.
Several FIRs have been filed against the management of J&K Bank for misappropriation of funds and giving bad loans to individuals and entities close to politicians which later turned into NPAs. These cases are being probed by the CBI and ED. Sources say investigations have shown a conspiracy between then bank directors and companies to purposely divert loans.
ED has arrested one of the directors of J&K Bank Nihal Garware who is said to be close to Omar Abdullah. Former chief minister used to regularly stay at his residence in New Delhi. Abdullahs are also being probed by federal probe agencies for their involvement in J&K Cricket Association scam. Between 2005-2011 BCCI gave Rs 109.78 crores to J&K Cricket Association for development of the game. It has been alleged that when Farooq Abdullah was chief of J&KCA, approximately Rs 43.69 crores were siphoned off. In December 2020, the ED attached assets worth Rs 11.86 crores of Farooq Abdullah.
