Srinagar, Jun 03: The Anti-Corruption Bureau on Friday arrested State Manager, Jammu & Kashmir State Industrial Development Corporation (SIDCO), Srinagar for demanding and accepting bribe.

In a statement ACB arrestee Fayaz Ahmad Khan, State Manager, Jammu & Kashmir State Industrial Development Corporation, Srinagar for demanding and accepting bribe of Rs 1.05 lakh from complainant for issuance of NoC.

“Anti-corruption Bureau received a complaint from complainant resident of Suthrashahi, Srinagar alleging therein  that he is an industrial unit holder. His unit is situated at Khunmoh, Srinagar. For expansion of the said industrial Unit he had requested for financial support/assistance from the J&K Bank Khunmoh. The bank sought NOC from SIDCO (Jammu & Kashmir State Industrial Development Corporation), Sanat Ghar, Bemina, Srinagar,” reads the statement.

Immediately after registration of the case, ACB constituted a team and caught Fayaz Ahmad Khan, State Manager SIDCO Sanat Ghar, Bemina, Srinagar red-handed while demanding and accepting bribe from the complainant.

He was arrested on the spot by the ACB team. The bribe money was also recovered from his possession in presence of independent witnesses, the statement added.