ACB searches properties of sacked J&K bank chairman

Srinagar, Jun 19: A team of Anti-Corruption Bureau (ACB) on Wednesday carried out searches at properties belonging to sacked Jammu and Kashmir Bank chairman Parvez Ahmad Nengroo.
Official sources said that a team of ACB, accompanied by Magistrates and J&K policemen, searched three properties of Nengroo, including his private and official residences in Srinagar.
The Governor Administration on June 8 removed Nengroo as chairman and Chief Executive Officer (CEO) of Jammu and Kashmir Bank (JKB) following allegations of gross irregularities in the financial institution.
The government later appointed R K Chibber, Executive President of JK Bank, as the government nominee on the Board, which subsequently approved his appointment as an Interim Chairman and MD of the Bank.