SRINAGAR: Former Jammu Kashmir Bank Chairman Parvez Ahmed was granted bail on Saturday.
Parvez was arrested by Anti-Corruption Bureau (ACB) in two different cases last year.
Sources told a local news agency KNT that a bail application was filed and argued on his behalf by Advocate Ishtiyaq Ahmed Khan before the Court of Special Judge Anti-Corruption Kashmir.
The court granted the accused interim bail with a surety bond of Rs one lakh but ordered him to appear before the investigating team between 10 AM to 2 PM as and when called by the Investigating Officer.
Pertinently, former chairman of J&K Bank Parvez Ahmad was arrested in April in connection with a case of illegal allotment of tenders by Jammu and Kashmir Bank regarding housekeeping, to a Mumbai based Company (M/S SILA Solutions Pvt. Ltd) for housekeeping that according to Anti-Corruption Bureau (ACB) led to a loss of crores of rupees to the bank.
The ACB had registered a case in October 2019 against a private firm and three former bank officials, including Parvez, for allegedly causing a Rs 6.92-crore loss to the bank by not following tendering rules.