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Insurance coverage deal: FIR registered in opposition to former J&Ok Financial institution chairman Parvez Ahmed

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The Anti-Corruption Bureau (ACB), Jammu, has registered a First Information Report (FIR) against former Jammu & Kashmir Bank chairman, Parvez Ahmed Nengroo, for acts of favouritism and abuse of official position as chairman of the bank.

ACB has proceeded against the bank for violation of norms in an insurance deal with IFFCO TOKIO General Insurance, in which a close relative of the former chairman is employed.

The allegation is that Parvez’s relative got a plum post in IFFCO TOKIO in return for the bank entering into a bancassurance deal with the insurance company. This was done in connivance with the Managing Director of IFFCO TOKIO General Insurance, according to an official release issued by the ACB, Jammu.

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