Srinagar, July 2 -- The High Court of Jammu & Kashmir and Ladakh has declined to quash criminal proceedings in an alleged multi-crore J&K Bank loan scam, holding that the material collected during the investigation discloses a prima facie case that warrants a full-fledged trial.

The petitions were filed by the promoters of Aman Hospitality Pvt. Ltd. (AHPL), including Raj Singh Gehlot, Sheela Gehlot, Madhu Bakshi and Mohan Singh, along with four associated companies.

The case also names several former senior J&K Bank officials, including former Chairman Mushtaq Ahmad, former Finance Minister and J&K Bank Chairman Haseeb Drabu, former Presidents Parvez Ahmad Nengroo and Abdul Majid Mir, former Ansal Plaza Branch Head Rakesh Kumar Kharyal ...