Image Source: TRIBUNE

Special Judge CBI Rajesh Sekri on Tuesday granted five days judicial remand of Hilal Rather, son of ex-Finance Minister, who was allegedly involved in Rs 177 crore bank loan scam. The Central Bureau of Investigation has taken over the case from the Anti-Corruption Bureau (ACB) on the recommendations of the J&K Government. It is alleged that Hilal Rather had taken a loan from Jammu and Kashmir Bank for his ambitious township project, known as Paradise Avenue, at Narwal Bala in Jammu in 2012.

The account had turned non-performing asset in 2017 and it is alleged that the loan amount was diverted to be invested in properties in Dubai and America, sponsorship of a T20 cricket team of a company and hosting shows of a popular stand-up comedian.