Kashmir Reader reports the J&K High Court has asked ACB to conclude the probe into the alleged scam of Rs 250 crores sanctioned in violation of the guidelines by the Chairman, J&K State Cooperative Bank in favour of River Jhelum Cooperative House Building Society Ltd. (JKSCBL).
Meanwhile the court has rejected the bail application of Hilal Ahmad Mir, Chairman, JKSCBL ordering ACB to file the supplementary charge sheet within a period of one month.
As per the court order, the petitioner cannot be released on bail at this stage when the scam is still under investigation. The loan was given to JKSCBL for constructing a Satellite Township at Shivpora, Srinagar.