2 publishers · first seen Mon, 09 Nov 2026 00:00 UTC · updated Mon, 09 Nov 2026 12:59 UTC
The Enforcement Directorate (ED) has provisionally attached 11 immovable assets worth Rs 10.63 crore in Srinagar and Bandipora districts in connection with an alleged loan fraud under the Prime Minister Employment Generation Programme (PMEGP). The assets, including land parcels and buildings, were in the possession of private suppliers-cum-brokers and a Jammu and Kashmir Bank official. The ED's investigation was initiated based on two FIRs registered by the Central Bureau of Investigation (CBI) in Srinagar, alleging misappropriation of PMEGP loans in a criminal conspiracy involving borrowers, bank officials, and other unidentified persons. The investigation revealed that PMEGP loans were obtained by projecting dummy borrowers and using fake invoices from non-existent firms, allegedly in collusion with J&K Bank officials and private individuals-cum-brokers.
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