HC grants bail to ex-chairman of J-K state co-operative bank in Rs 300 crore scam

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Srinagar: The Jammu and Kashmir High Court Wednesday granted bail to Mohammad Shafi Dar, Ex-Chairman of J-K State Co-operative Bank Ltd., in the Rs. 300 crore-J-K State Co-operative Bank land scam.

Dar was represented by Advocate Faizan Nazir and Bashir Ahmed Dar Sr. AAG appeared on behalf of the Union Territory of J-K.

A single-judge bench comprising Justice Sindhu Sharma noted the fact that the money taken from the bank was paid to the owners of land, who executed a power of attorney in favour of the Chairman of the Jhelum Co-operative Society.

The High Court further noted that the investigation in the matter was complete in respect of Dar, including the filing of the charge sheet and supplementary charge sheet, and accordingly, the custody of Dar was not required.

The HC has granted the bail subject to the furnishing of a personal bond as well as a surety bond to the tune of Rs. 50,000 each to the satisfaction of the Registrar Judicial of the High Court of Jammu and Kashmir at Srinagar (KNS)

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