J&K National Conference Leader's Son Arrested Over Alleged Bank Fraud

The Anti-Corruption Bureau (ACB) in Jammu and Kashmir on Thursday arrested Hilal Rather, son of National Conference leader and former finance minister Abdul Rahim Rather, in a bank fraud case involving Rs 177 core. “Hilal Rather was arrested by the Anti-Corruption Bureau (ACB) Jammu today in a case related to the alleged misappropriation of crores of rupees from the term loans running into Rs 177 crores sanctioned by Jammu and Kashmir Bank for his ambitious township project known as Paradise Avenue at Narwal Bala Jammu in the year 2012,” an ACB spokesman said.

Hilal’s father Abdul Rahim Rather was the finance minister of the erstwhile state in 2012 when the loan was taken from the bank. The ACB spokesman said the investigation conducted by the ACB has revealed that Paradise Avenue, a partnership concern of Hilal Rather, Dr Rizwan Raheem Dar of Sanat Nagar, Srinagar, Ghulam Mohd Bhatt of Baramulla, Kashmir, Daljeet Wadhera and Deepshikha Jamwal of Jammu was sanctioned a term loan of Rs 74.27 crores in the first phase.

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