J-K: Former SICOP MD held in disproportionate assets case

The Anti-Corruption Bureau on Wednesday arrested former managing director of State Small Scale Industries Development Corporation (SICOP) Bhupinder Singh Dua in a disproportionate assets case, officials said. Dua has allegedly amassed massive wealth and raised a number of assets in his own name as well as in the name of his family members and close relatives, they added. He had acquired these assets with the money earned through corrupt practices during his stint in the SICOP in various capacities, they added.

During a search conducted on October 14 last year by the ACB, valuables, including gold and silver ornaments, were recovered from his premises, they added. The officials said during the ongoing investigation, it was discovered that Dua had also acquired movable and immovable proprieties, including 12 factories. They said he and his family members purchased two houses, two plots and four luxury vehicles. The accused was given ample time and opportunity to provide details of the assets and properties acquired by him, the officials said. He was taken into custody by the ACB for questioning regarding assets acquired by him, they added.