JK Bank Chairman Parvez Ahmed Removed, Chibber Takes Over

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Srinagar: The Governor Administration has removed Pervez Ahmed from the post of Chairman, Jammu and Kashmir Bank, states premier financial institution, reliable sources said today.

 Executive president of the bank, R K Chhibber has been appointed as Interim Chairman, these sources told Kashmir Observer.

“Mr Pervez Ahmed, Chairman cum Managing Director shall cease to be Director on the Board of Directors of the bank and consequently be no longer the Chairman cum Managing Director of the board”, a government order reads. It said the decision was taken in exercise of the powers under Article 69(iii) of Articles of Association of Jammu and Kashmir Bank Ltd.

R K Chibber, has been nominated as the Director on the Board and will act as Interim Chairman cum Managing Director, according to the government order. “These directions, according to reads the order signed by Vishal Sharma, additional secretary to the government, Finance Department, shall come into effect immediately”.

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