Haseeb Drabu: Master of Fraudulent Business Practices

SRINAGAR: The nexus of illegal trade between a premier industrial group of the Kashmir Valley, Younis Zia, a murky businessman and former Finance Minister and MLA Rajpora Haseeb Drabu is all marred by the fraud tactics and illegal means.

The first and foremost is the ‘Kahnov Realty Private Limited’ Registered on 07 JULY 2011 by Haseeb Drabu and others in contrary to the constitutional law that the representative cannot holds an office of profit under section 9 (A) of the Representation OF People Act and article 191 (1) (A) of the constitution.

The shocking fraudulent practices bloom in this entire trade of the ex finance minister, Capital basic is just one lac while as trade tantmounting to Rs  12 Crore is shown. While as the staggering profit of one crore sixty lac also known as reserve and surplus is shown for a financial year, with just capital of one lac.

Thirdly, a shady guy Younis Zia who is said to have taken several loans from JK bank and was close lieutenant of   Haseeb Drabu is astonishingly giving Drabu a loan of one crore 25 lac interest free  for the business concern of Drabu , while he was heavily funded  by the Haseeb Drabu during his tenure.

Fourthly, the premier business group of the Kashmir valley along with this suspicious Younis Zia is in nexus of this fraudulent trade practices.

A business analyst, while talking to The Kashmir News Bureau stated -“Their balance sheet is certainly fraud of the century and it should be thoroughly probed that what sort of business our former Finance Minister Haseeb Drabu was doing that has a just basic capital of Rs one lac and shows abnormal profit of one crore 25 sixty lac and trade worth of 12 crore. If this is genuine he should share this magic wand with the youth of Kashmir. All said and done this looks clear cut case of dodgy and negative practices.” (KNB)