JAMMU : The Anti-Corruption Bureau (ACB) lodged an FIR on Saturday in the Jammu and Kashmir Bank loan fraud case involving an amount of over ₹1,100 crore, officials said. The said amount was advanced by the bank to Rice Exports India (REI) Agro Ltd. He said the houses of REI Agro's chairman Sanjay Jhunjhunwala and vice president and managing director Sandeep Jhunjhunwala were also searched in Delhi. Further investigation into the matter was underway and three teams were continuing with the searches in the national capital, the spokesperson added. "The objective was to facilitate the company to divert the loan amount for its own benefits.

Source: Mint October 20, 2019 08:03 UTC