This Article is From Mar 06, 2020

Case Against Son Of Former J&K Minister In Rs 177 Crore Bank Scam

It is alleged that Hilal Rather took loan from Jammu and Kashmir Bank for his township project, Paradise Avenue, in Jammu in 2012, officials said.

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CBI has taken over the case on the recommendation of the Anti-Corruption Branch of Jammu and Kashmir

New Delhi :

The CBI has filed a case against Hilal Rather, the son of National Conference leader and former Jammu and Kashmir finance minister Abdul Rahim Rather, in a Rs 177-crore bank fraud case, the officials said on Thursday.

The central agency has taken over the case on the recommendation of the Anti-Corruption Branch of Jammu and Kashmir, they said.

It is alleged that Rather had taken a loan from Jammu and Kashmir Bank for his ambitious township project, known as Paradise Avenue, at Narwal Bala in Jammu in 2012, they said.

The account had turned non-performing asset in 2017, they said.

It is alleged that the loan amount was diverted to be invested in properties in Dubai and America, sponsorship of a T20 cricket team of a company and hosting shows of a popular stand-up comedian.

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