SRINAGAR, June 11: The Central Bureau of Investigation (CBI) has registered a case against 19 private individuals, unknown officials of J&K Bank and unidentified public servants for alleged irregularities in the sanctioning and diversion of loans under the Prime Minister’s Employment Generation Programme (PMEGP) in Bandipora district of Jammu and Kashmir.
According to an FIR registered last week, the case pertains to alleged criminal conspiracy, cheating, forgery, criminal breach of trust and corruption in the sanctioning of multiple PMEGP loans at the J&K Bank branch in Sumbal since 2022.
The CBI alleged that unknown bank officials entered into a conspiracy with beneficiaries and other private individuals to secure sanction of several PMEGP loans. The investigation agency said loan amounts released to beneficiaries were subsequently diverted to accounts of the accused through forged and fictitious invoices and bills.
The agency said the alleged diversion of funds, carried out in connivance with unidentified public servants, caused wrongful loss to the bank and the public exchequer while generating unlawful gains for the accused and involved officials.
The FIR noted that the diversion of funds prima facie indicated embezzlement and misappropriation of public money through criminal misconduct by unknown public servants.
The case has been registered under various provisions of the Indian Penal Code, including Sections 120-B, 409, 420, 468 and 471, along with Section 13(1)(a) read with Section 13(2) of the Prevention of Corruption Act. The accused include private individuals as well as unknown officials of the Khadi and Village Industries Board (KVIB), Khadi and Village Industries Commission (KVIC), District Industries Centre (DIC) and J&K Bank.
The investigation has been entrusted to an inspector-rank officer of the CBI. (Agencies)
