Court grants interim relief to former JK Bank Chairman


Malik Sameed

Srinagar, June 23(KNB): The petition filed by Former Chairman Jammu and Kashmir Bank Parvez Ahmed got a judgement notice on Tuesday in which Zubair Iqbal has been also included as the party respondent No. 5 to the writ petition wherein the application stands disposed off.

The subject and outcome of petition by High court of Jammu and Kashmir Srinagar states an interim direction for stay of notification dated 15-05-2020, whereby respondent No.1 has nominated Mr Zubair Iqbal as nominee director of respondent no.1 with respondent no.2 Bank with a further direction that approval to the appointment of the said Zubair Iqbal as such may not be accorded by respondent no.3.

However, all the reliefs which are being sought by the writ petitioner in the application are primarily going to affect the rights of Zubair Iqbal.

The judgement released for the petition of Parvez Ahmad Nengroo read as, “The petitioner filed the instant writ petition, challenging the action of the respondent No.1 whereby the said respondent issued a communication dated 18-06-2019 thereby removing the petitioner from the post of Chairman cum CEO of respondent no.2 Bank. Petitioner further sought the direction for his reinstatement as chairman cum CEO of respondent no.2 Bank and for release of monthly salary along with prerequisite in his favour.”

“After this development petitioner filed an application seeking a direction for staying the selection process being undertaken by the respondent no.2 Bank for appointment against the advertisement post of Managing Director with a further direction to stay the notification dated 15-05-2020, whereby the respondent no.2 nominated Mr Zubair Iqbal as nominee director of respondent no.1,” it further added.

It is pertain to mention here that on June 10 last year, the Reserve Bank had approved the appointment of Chibber as interim CMD of Jammu and Kashmir Bank for three months following the removal of Parvez Ahmed from the post by the then state government on alleged charges of corruption, nepotism and favouritism to which Parveez Ahmad had filed a petition seeking his removal as Chairman and managing director J&K bank with dignity.

However, the Board of Directors of J&K Bank recommended the appointment of separate chairman and a managing director of the bank and had appointed RK Chibber and Zubair Iqbal as chairman and managing director of J&K Bank for next three years respectively

An order to this effect was issued by the additional secretary to the finance department which read as, “Consequent to the above (decision of appointment), the board of J&K bank may appoint him (Iqbal) as managing director of J&K bank.”

While as In another order, Chibber, who is currently MD and Chairman of J&K bank, has been reappointed as the chairman for the period of three years.

Both of Chhibber and Iqbal were appointed as director and nominee of the government in the J&K Bank Board.(KNB)

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