New Delhi, May 10 (IANS): The Central Bureau of Investigation (CBI) is conducting searches at eight locations belonging to the former chairman, directors and executive director of J&K Bank in connection with its ongoing probe into the alleged irregularities in the purchase of integrated office space for the bank in Mumbai.

A CBI source said that those whose premises are being raided include the ex-chairman of the bank, M.R. Hasbib Drabo, former directors M.I. Shahdad and Vikrant Kuthiala, and ex-executive director A.K. Mehta.

"Our teams are conducting searches at eight locations in Jammu, Srinagar and Mumbai at the premises of then members of the Estate Committee of the Board of Directors of J&K Bank including then chairman, directors, and the executive director.

"Incriminating documents, articles and electronic evidences, several bank account details and bank locker keys have been recovered during searches," said a source.

It has been alleged that these members of the Estate Committee received kickbacks of crores of rupees for facilitating the deal.

The CBI officials also recorded the statements of those who were present at the premises. These statements will be furnished along with the chargesheet and can be used as an evidences.

The CBI had registered a case on November 11, 2021 on the allegations of irregularities in the purchase of the Akruti Gold building in Mumbai for Rs 180 crore by J&K Bank for its integrated office in Mumbai in 2010.

The said case was referred by the J&K government. The CBI had also conducted searches earlier at various locations including Mumbai, Hyderabad and Kolkata.

J&K Bank officials have confirmed the raids.