Srinagar, June 23,: A local court in Srinagar has convicted a resident of Chattabal in a long-pending fraud case related to large-scale misappropriation of government stock at the Government Woollen Mills, Bemina.
The judgment comes over two decades after the Crime Branch Kashmir registered an FIR following revelations of financial irregularities amounting to lakhs of rupees.
The Court of City Judge (Judicial Magistrate 1st Class) Srinagar found Fayaz Ahmad Bhat, son of Ghulam Nabi Bhat, a resident of Bhagi Sunder Payeen, Chattabal, guilty under Sections 409 (criminal breach of trust), 420 (cheating), and 468 (forgery) of the Ranbir Penal Code (RPC), in connection with FIR No. 66/2003 registered at Police Station Crime Branch Kashmir.
The case originated from a written complaint filed by the Secretary of J&K Industries Ltd., alleging serious financial discrepancies in the functioning of Government Woollen Mills Bemina between 1995-96 and 2001-2003. The complaint cited short accountals, delayed ledgerisations, and illegal movement of materials from finishing stores to excise-paid godowns and retail outlets through fake invoices.
Subsequent inquiry by the Crime Branch Kashmir found that Fayaz Ahmad Bhat played a central role in the embezzlement, using fraudulent methods to siphon off materials and cause significant loss to the state exchequer, while gaining personally.
After the investigation concluded, a charge-sheet was filed before the court on January 24, 2008, and charges were formally framed against the accused under the aforementioned sections of RPC.
Delivering its verdict, the Hon’ble Court sentenced Fayaz Ahmad Bhat to two years of simple imprisonment and a fine of Rs 5,000 each under Sections 409, 420, and 468 RPC. In case of failure to pay the fine, he will undergo an additional six months of simple imprisonment. The court ruled that all sentences will run concurrently. [KNT]
