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Attempt to withdraw guarantee money from JKCL; CB initiates probe 12/20/2015 12:00:34 AM Ishtiyaq Ahmad ET Report Srinagar, Dec 19: The Crime Branch has initiated a probe into an attempt to siphon off around Rs 80 lakh from guarantee money from JK Cements Limited under forged signatures. "We have received complaint from JK Cements' Managing Director regarding the attempt to siphon off bank guarantee money under forged signatures. I have asked the officials of Crime Branch Jammu to investigate the matter thoroughly," IG Crime Muneer Khan told Early Times. He said though during the initial investigation we have found that the money has not been withdrawn from the bank but attempt under forged signature is a crime which needs to be investigated. "I can assure you that whosoever is found involved in this crime will be booked under the law," he said. The development came after it has come to the fore that someone attempted siphoning bank guarantee money around Rs 80 lakh under forged signatures in the Jammu and Kashmir Cements Ltd. Official sources said that a draft carrying forged signatures of Financial Advisor JK Cements Limited was submitted to the Bank of India New Delhi for release of bank guarantee amount to the New Delhi-based company M/s Ashoka Gear. Before releasing the amount, the Bank asked the JK Cements' Financial Advisor whether the official had issued any such draft in favour of the Delhi company. "The Financial Advisor expressed her ignorance about any such draft and asked the Bank to stop the payment immediately," sources said. Financial Advisor JK Cements Ltd told Early Times that she brought the fraud into the notice of Managing Director following which he immediately forwarded the complaint to the Crime Branch. She said that the Crime Branch should probe the matter thoroughly. "How could someone go to the extend forging somebody's signature. It is a matter of serious concern," she said and added that she will fully cooperate with Crime Branch in the investigation.   Share This News with Your Friends on Social Network     Comment on this Story

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