Srinagar: Jammu and Kashmir High Court after modifying its interim directions, Wednesday allowed M.D. State Cooperative Bank to continue to function till further orders. A group of persons had filed a petition alleging that M.D. State Cooperative Bank was involved in embezzlement.
A Single Bench headed by Justice Muzafar Hussain Attar after hearing the arguments from the Counsel of State Cooperative Bank allowed Muhammad Ashraf to continue to function as Managing Director SCB.
M.A.Beigh, Counsel of the SCB argued that the allegations of embezzlement in the petition against MD SCB namely Muhammad Ashraf Bhat are self assertions of Petitioners which are wild and unjustified.
He further submitted before the Bench that there is nothing available against him in the record of the Bank and argued that the career of Bhat has remained unblemished and nothing wrong has been substantiated of found against him so far.
The Bench maintained that, since the maintainability of Writ Petition is under serious cloud and even the bonofides of the Petitioners would require to be considered, it would be in the interest of justice to modify the previous interim order and thus allow Muhammad Ashraf Bhat to continue to function as Chief Executive Officer/MD of SCB till further orders. (CNS)
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