Omar Abdullah being questioned by ED; blames BJP, calls it 'fishing expedition'

According to reports, the CBI indicted former J&K Bank chairman Mushtaq Ahmad Shaikh and 18 others last month for a Rs 800 crore loss to the bank as a result of loans to REI Agro issued in breach of rules, without genuine security, and on fraudulent documents.

The Enforcement Directorate (ED) on Thursday questioned former Jammu and Kashmir Chief Minister Omar Abdullah in the J&K Bank money laundering case. The Central Bureau of Investigation (CBI) has previously charged former J&K Bank Chairman Mushtaq Ahmad Shaikh and others with suspected irregularities in loan and investment sanctioning.

"We have no doubt that the BJP's fishing expedition will produce no real results, and the people will give the national conference a resounding endorsement as and when necessary," the party stated on Twitter.

According to reports, the CBI indicted former J&K Bank chairman Mushtaq Ahmad Shaikh and 18 others last month for a Rs 800 crore loss to the bank as a result of loans to REI Agro issued in breach of rules, without genuine security, and on fraudulent documents.

The Central Bureau of Investigation stated that it had detained REI Agro chairman Sanjay Jhunjhunwala and vice president and managing director Sandeep Jhunjhunwala, as well as bank executives.

The matter was previously investigated by Jammu and Kashmir's anti-corruption division, which discovered during its preliminary investigation that loans worth Rs 800 crore were sanctioned to the group between 2011 and 2013, in breach of standards, according to officials.