ACB Registers FIR In Rs 1000 Cr Housing Corporation, HUDCO Loan Default Case
SRINAGAR: Anti-Corruption Bureau on Saturday has registered an FIR in Rs 1000 crore Jammu and Kashmir Cooperative Housing Corporation, HUDCO loan default case.
According to a statement issued by the ACB, “A Preliminary Enquiry (PE) was registered on the basis of a complaint received from the GAD J&K, Jammu to look into the allegations of J&K Cooperative Housing Corporation (JKCHC) which was registered in the year 1982 by the then Registrar of J&K Cooperative Societies to provide housing facilities to the public had defaulted in repayment of loan amount amounting to Rs. 40.63 crore raised from HUDCO. J&K government was the Guarantor and 70 % of the capital was owned by it.”