JKCA loaned Rs 1.9 cr to key accused

SRINAGAR: The investigation into the multi-crore Jammu and Kashmir Cricket Association (JKCA) has further revealed that the state cricket association authorities had allowed an interest-free loan of Rs 1.90 crore in favour former treasurer and prime accused in the case Ahsan Ahmad Mirza.

Ishfaq Tantry

Tribune News Service

Srinagar, May 28

The investigation into the multi-crore Jammu and Kashmir Cricket Association (JKCA) has further revealed that the state cricket association authorities had allowed an interest-free loan of Rs 1.90 crore in favour former treasurer and prime accused in the case Ahsan Ahmad Mirza.

The association had earlier borrowed the amount from J&K Bank on specified interest rates.

The loan was extended to Mirza through a resolution signed by the JKCA president and general secretary.

The ongoing investigation into the scam by the Special Investigation Team (SIT) of the J&K Police revealed that the state cricket association authorities allowed huge advances in favour of its functionaries without maintaining any records in the books or proper accounting and termed it a “serious financial indiscipline”. There are allegations of misappropriation of funds by the former office-bearers of the JKCA to the tune of over Rs 40 crore.

The SIT report accessed by The Tribune revealed that Rs 1.90 crore was raised as loan by the JKCA from the Khanyar branch of the J&K Bank through newly opened loan account number 1097. The amount was allowed as interest free loan in favour of Ahsan Ahmad Mirza as per the resolution issued under the signatures of president and general secretary of the association in 2008, the SIT report mentioned.

“It is a point to note that the association had to pay an interest of Rs 1,08,99,010 as accrued on 10/02/2012 against the borrowed amount, whereas the same was allowed as interest free loan against one of its officer bearers (Mirza) by the JKCA,” the report pointed out.

The SIT termed it as a “serious financial indiscipline” and “gross negligence” on part of the JKCA top functionaries.

The probe into the scam is being monitored by the Jammu and Kashmir High Court, which has already issued notices to JKCA president and former Chief Minister Farooq Abdullah and other respondents while hearing a PIL. The investigation also revealed “huge advances” were made in favour of JKCA functionaries and other persons like former general secretary Mir Manzoor Ganzafar (over Rs 1.30 crore), working committee member Shiban Lal Trackroo (Rs 20 lakh), Javeed Kitab (Rs 65 lakh) on “wholesale basis”.

The investigators noted that such advances had been “allowed against the norms” from time to time.

“The advances allowed in favour of functionaries has been kept off the records/books of the association the accounts whereof have not been placed anywhere,” the reports notes while accusing the JKCA bearers of “sleeping over” the matter and “not discharging” their obligatory/legitimate duties.