The Anti Corruption Bureau in Jammu and Kashmir has begun probing allegations of corruption and nepotism against former J&K Bank Chairman, Parwez Nengroo.

The Anti Corruption Bureau was established in J&K a few months ago. The new ACB Chief was appointed two months back according to official sources.

Investigations against Nengroo are in line with the move to plug corruption in the state.

“The ACB is probing Nengroo’s meteoric rise from a CA to Chairman in a short span of 15 years, despite his shady reputation. He also got his nephew (Muzaffar) posted into his office immediately after taking over as Chairman. He is considered a key man of the chairman,” the MHA source said.

“His daughter-in-law, Shazia Ambreen, was appointed a PO and currently heads the Hazratbal branch. Two J&K Bank branches, Kaprin Shopian and Wuyan Pulwama, operate in his personal premises and in the premises of the in-laws of the chairman. Both locations are highly unsuitable from a banking point of view,” the source added.

“Personnel manager Aslam Ganai is close to Parwez Nengroo and allegedly acted as a conduit for effecting transfers in the bank in line with the ex-Chairman's wishes, with complete disregard for the bank's interests. It's well known in the bank who was to be approached regarding transfers,” the source said.

According to officials in the know, the ACB is now probing as to how Parvez Ahmad Nengroo, whose registered DOB with the Govt High School Kapran Kulgam, is 21-04-1963, passed the Matriculation exam at the age of 14 years in November 1977 under Roll No: 3438.

There are allegations that loans worth hundreds of crores of rupees were sanctioned in brazen violation of SOPs/ guidelines to select recommendees of Imran Ansari and Sajad Lone.

There have also been huge variations in the cost:income ratio as expenditure during Nengroo's time had spiralled 200 to 500 per cent, which is among other matters that are being investigated.

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