HC grants bail to ex-Chairman of J&K Cooperative bank in Rs 300 cr Scam

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Srinagar, December 16: Jammu and Kashmir High Court on 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, while Bashir Ahmed Dar Sr. AAG appeared for the Union Territory of J&K.

Granting bail, Justice Sindhu Sharma noted 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. Moreover, investigation in the matter was complete in respect of Dar, including the filing of the charge sheet and supplementary charge sheet, and accordingly, his custody of Dar was not required, the court noted and granted 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.