Ex-J&K Bank Chairman, President booked for Rs 6 Crore loss to Bank

• Allotment of Housekeeping Tender for ATMs to Mumbai based firm

STATE TIMES NEWS
SRINAGAR: Anti Corruption Bureau has registered an FIR against and ex-chairman J&K Bank and former executive president among others for awarding tenders of housekeeping to a Mumbai based Company M/s SILA Solutions Pvt. Ltd by not following the proper tendering norms, causing los of Rs. 6,29,56,575 to the Bank.
FIR 14/2010 has been registered against accused Surjeet Singh Seghal, the then Executive President J&K Bank (now retired), Parvaiz Ahmad, the then Chairman of J&K Bank (now retired), Feroz Ahmad, the then Assistant Vice President besides Sahil Vora and Rishabh Vora, Directors, M/s SILA Solutions Pvt. Ltd. along with the residents of 508 Olympus Apartments 5C, Altamont Road Mumbai-400026 on the allegation that the officers and officials of J&K Bank Ltd. awarded tenders of housekeeping to a Mumbai based Company M/s SILA Solutions Pvt. Ltd by not following the proper tendering norms and that has led to the losses to the bank of the tune of Rs. 6,29,56,575 from the date of award of contract. “The case pertains to allotment of tenders, for housekeeping of offsite ATMs, to a Mumbai based Company i.e, M/S SILA Solutions Pvt. Ltd, by not following proper tendering norms as provided the contract to the firm despite not falling into the criteria of any such allotment.”
Earlier, a verification was conducted by Anti Corruption Bureau Central into the matter wherein it was revealed that J&K Bank with HQ at Srinagar came out with a Pan India tender for housekeeping services in the year 2015, the anti-graft body said. “J&K bank officials in contravention of tender conditions negotiated the rates with M/S SILA Solutions Pvt Ltd. The tender was awarded to M/S SILA Solutions Pvt Ltd in gross violation of General Financial Rules (GFR),” it said. The contract of M/S SILA Solutions Pvt Ltd amongst other conditions included ATM cleaning and deployment of janitors. The additional management fee awarded to M/S SILA Solutions Pvt Ltd by J&K Bank was not part of original tender, it said. “The loss on the account of the tender has worked out to be more than Rs 6 crs. The loss is likely to go up as investigation progresses.” In this connection, the ACB said, on September 17, 2020, ACB Kashmir conducted searches at the residential house of Feroz Ahmad Kaloo, Assistant Vice President J&K Bank situated at Mohalla Muma Khan (Kathidarwaza), opposite Psychiatric Hospital Rainwari Srinagar. “Incriminating documents were seized during searches,” it said, adding, “The investigation of the case is in progress.”