Cong Ex-MLA’s wife gets Rs 5cr loan without mortgage, guarantor; BJP demands inquiry

1 year ago 46
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leadership has sought an inquiry by the Anti-Corruption Branch (ACB) into allegations of J&K Bank advancing a loan of Rs 5 crore to the wife of former


MLA Shoaib Lone without any mortgage or guarantor.
“Shabana Lone, wife of Shoaib Lone, managed to get Rs 5 crore loan in May last year from J&K Bank’s Barzulla branch in Srinagar without following the proper procedure of mortgaging property or having a guarantor. Bank rules were brazenly flouted and there is no evidence as to how the loan was sanctioned for Shabana, who had no business unit nor a genuine case to borrow such a huge amount,” J&K BJP spokesperson Altaf Thakur alleged. He demanded stern action against the conniving bank employees including then zonal head of central


in Srinagar,

Tabassum Nazir

Shoaib Lone, who had won from the Sangrama constituency in


on a Congress ticket in 2006, had resigned from the party in February this year to join the Altaf Bukhari-headed APNI.
Thakur said when the “scam” took place, Pervez Ahmed Negroo, the sacked chairman of J&K Bank, was heading the institution and Nazir was the zonal head in Srinagar. Negroo was removed last year on charges of large-scale irregularities as well as making backdoor appointments in the bank. An ACB investigation is already underway in Negroo’s case.

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