Son of Ex-Chairman of erstwhile JK Legislative Council to be produced before court for remand
SUMIT SHARMA
Jammu: Accused in Rs 5 crore J&K Bank loan fraud case, Aditiya Malhotra son of ex-Chairman of J-K Legislative Council of erstwhile Jammu and Kashmir State Amrit Malhotra, today again hit the headlines for fraud in Chhattisgarh which prompting Chhattisgarh Police to secure his arrest from Jammu’s Sainik Colony area.
“ Chhattisgarh Police Friday night conducted a raid at the residence of Aditiya Malhotra and arrested him. He was later taken to the Police Post Sainik Colony for further legal action and police remand to take him to Chhattisgarh. He has been booked for breach of trust over there”, a senior Police Officer told The News Now.
Worth to mention here that in the year 2022, Anticorruption Bureau Jammu booked Aditya Malhotra his brother Vikram Malhotra and one Anoop Bhat then Branch Manager J&K Bank Residency Road for loss of Rs 5 crore to the Jammu and Kashmir Bank.
M/S A3 Infrastructures Pvt. Ltd (a sister concern Aditya Malhotra) availed loan of Rs. 5 crore for construction of ware housing project with capacity 10,000/- MT at Sehora, Jammu.
Despite disbursement of loan amount, no construction of godown was raised by M/S A3 Infrastructure Pvt. Ltd. resulting in cancellation of contract by FCI and consequently no rentals accrued in favour of his firm and finally the loan account turned NPA, which resulted in huge loss of Rs. 5 crores to the J&K Bank.
By acting in the aforesaid manner the accused officers/officials of the J&K Bank had in furtherance of criminal conspiracy hatched with Aditya Malhotra and Vikram Malhotra, Promoters, Directors of M/S A3 Infrastructure Pvt. Ltd. and others, abused their official position and had thus conferred undue pecuniary advantage to the beneficiaries thereby causing huge loss of Rs 5 crores to the J&K Bank.
Upon this ACB had registered a FIR NO 12/2022 u/s 5(1) (d) r/w section 5(2) of J&K PC Act Svt 2006 and section 120-B RPC.
