Ex-MLA plays with law!
JJ CORRESPONDENT
Jammu, Jul 19: One ex-MLA, who had once took oath to protect the law of land as ‘having been nominated as a candidate to fill a seat in the Legislative Assembly do swear in the name of the God /Solemnly affirm that I will bear true faith and allegiance to the constitution of India as by law established and that I will uphold the sovereignty and integrity of India’ has fraudulently reduced the share of his partners to get supremacy by using his political and muscle power.
On complaint of one Harmeet Singh Sasan, who is resident of Jammu, an FIR (39/2019) was registered by Crime Branch Jammu in year 2019. Case is pertaining to a partnership dispute between Shoiab Lone and his three partners namely Harmeet Singh Sasan, Abdul Rashid Banday and Nazrul Islam Baba.
Shoiab lone illegally reduced share holding of Harmeet Singh From 46.5% to zero and removed all three partners from board of directors with illegal support from Few Company secretaries and Chartered accountants who are also accused in the said case. He didn’t stopped here, he also took hostile takeover of the ca Cold store in 2018 due to his political power and muscle power and in spite of unit generating crores of Rupees per year from last three years Shoaib lone has not deposited a single penny in the term loan account of The Cold store at J&K Bank Jawhar Nagar branch, thus defaulting the term loan against the said unit @ 21 crores. Subsidy from National Horticulture Board @ 7.8 crores was released for this unit in 2018-2019.
His wife is also a bank defaulter at the tone of 7.5 crore Rupees from JK Bank Branch Barzula Srinagar and he has also not paid State electricity board ( PDD ) Bills from last few years and currently it stands at 96 lacs as pendency.
Crime Branch Jammu has established a case against Shoaib Lone and other co accused and was arrested from Channi Himmat and sent to Police remand for 10 days by the court.
