ED Attaches 11 Properties Worth Rs 10.63 Crore in Kashmir PMEGP Loan Fraud Probe
The agency said 270 PMEGP loan accounts turned non-performing assets as investigators traced Rs 11.37 crore in proceeds of crime.
- On Monday, the Enforcement Directorate attached 11 properties valued at Rs 10.63 crore in Srinagar and Bandipora districts under the Prevention of Money Laundering Act, 2002.
- Hilal Ahmad Wani and associates allegedly orchestrated the fraud using "fake" invoices of non-existent firms while conspiring with J&K Bank officials at the Sumbal and Gamud Gadkhud branches.
- The total default across 540 loan accounts stands at approximately Rs 32 crore, with investigators tracing Proceeds of Crime worth Rs 11.37 crore layered through multiple bank accounts.
- On Friday, the agency searched 14 premises across Punjab and Chandigarh targeting properties linked to Arora and Parteek Arora; Amandeep Kaur Arora denied wrongdoing, stating searches lasted about 36 hours.
- The investigation stems from FIRs registered by the Anti-Corruption Branch and Central Bureau of Investigation in Srinagar, with further inquiry ongoing to safeguard the value of Proceeds of Crime.
13 Articles
13 Articles
How ED Uncovered Rs 32 Crore PMEGP Loan Fraud In J&K
The Enforcement Directorate has attached 11 properties worth Rs 10.63 crore in Srinagar and Bandipora, Jammu and Kashmir, in connection with a money laundering case. The case involves alleged irregularities and misuse of funds under the Prime Minister's Employment Generation Programme (PMEGP), with J&K Bank officials and brokers implicated in fraudulently availing loans and causing a Rs 32 crore loss to the bank.
ED Attaches 11 Properties Worth Rs 10.63 Crore in PMEGP Loan Fraud Case in J&K
Srinagar, November 9, 2026 (Yes Punjab News) The Directorate of Enforcement (ED) has provisionally attached 11 properties, including land and buildings, worth Rs 10.63 crore in Srinagar and Bandipora districts of Jammu and Kashmir in connection with an alleged loan fraud under the Centre’s Prime Minister Employment Generation Programme (PMEGP). The ED’s Srinagar Zonal Office […]
ED attaches property worth Rs 10.63 crore in PMEGP loan fraud case in J&K (Lead)
Srinagar, Nov 9 (IANS): The Directorate of Enforcement’s (ED) Srinagar Zonal Office has attached 11 properties, including buildings and plots, worth Rs 10.63 crore in two J&K districts in connection with a case of loan fraud in the Centre’s Prime Minister Employment Generation Programme (PMEGP), the agency said on Monday. The ED, in a statement […]
The Enforcement Directorate (ED) has taken major action in connection with the Prime Minister's Employment Generation Programme (PMEGP) loan scam in Jammu and Kashmir. The ED has provisionally attached 11 immovable properties worth ₹10.63 crore in Srinagar and Bandipora under the Prevention of Money Laundering Act (PMLA).
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