The anti-corruption division of CBI Srinagar has registered a case of alleged misappropriation of public funds at Mirgund branch of Jammu and Kashmir Grameen Bank.

An official while confirming the registration of FIR said Ishtiyaq Ahmad Parray, the bank’s branch manager at the time, sanctioned a series of multi-crore car loans in favor of non-existent borrowers between 2014 and 2018, based on forged vehicle registration documents in collusion with other private parties.

He further added that subsequent searches were conducted by CBI sleuths and incriminating documents, numerous bank account details and other sublime documents were seized.