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Jammu: Secretary Cooperative Department, Yasha Mudgal, today chaired a meeting to review the working of J&K Cooperative Housing Corporation Limited in the Union Territory of Jammu and Kashmir.The meeting was attended by Additional Secretary
JAMMU: The Anti-Corruption Bureau (ACB) of Jammu Police on Saturday registered an FIR in the multi-crore loan default case involving Jammu & Kashmir Cooperative Housing Corporation Ltd (JKCHC), whereby large amounts of the loan were diverted and state land encroached and sold illegally.
Searches were conducted in this regard and incriminating documents and articles recovered from the residence of then MD of JKCHCL Brij Bhushan Sharma.
In a written statement, an ACB spokesperson said that a preliminary enquiry was registered based on a complaint received from the GAD J&K to look into allegations of J&K Cooperative Housing Corporation.
“JKCHC had defaulted in repayment of loan amount amounting to more than Rs 40 crore raised from HUDCO. J&K government was the guarantor and 70% of the capital was owned by the government,” a police spokesperson said. The complaint revealed as of July 26, 2017, an amount of Rs 90 crore including interest was outstanding against the corporation.
ACB registers FIR in 1000 crore J&K Cooperative Housing Corporation, HUDCO loan default case
JAMMU: 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 Govt. was the Guarantor and 70 % of the capital was owned by the Govt.
The complaint further revealed as on 26.07.2017, an amount of Rs. 90 crores including interest was outstanding against the Corporation. HUDCO had further blacklisted the Govt. till liquidation of the outstanding loan and no further loan facilities were granted by HUDCO for execution of various projects in J&K. The enquiry further revealed that JKCHC availed around 27 loan facilities from HUDCO w.e.f 1991 to 2001 for
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.”