The financial daily quoted a bank official as saying, "We are collecting all details of the case. However, no official from that period has been under investigation or faced any enquiry till now." A meeting between the Indian Banks' Association and Jammu and Kashmir Bank scheduled on Wednesday was delayed.
The J&K Bank came under criticism from legislators of the Opposition parties last month for its non-performing assets. The Opposition even wanted a debate on the weak financial condition of the bank.
According to the report, an Opposition leader, CPI(M)'s Muhammad Yousuf Tarigami, said the bank's NPAs had increased to over Rs 50 billion.
The lender said J&K Bank's net NPAs narrowed to Rs 24.8 billion or 4.29 per cent of net advances in the three months ended December from Rs 26.9 billion or 5.99 per cent a year earlier.
The Income Tax Department on Wednesday attached Rs 1.45 billion belonging to jeweller Nirav Modi. To date, the IT department has attached a total of 141 bank accounts/fixed deposits of the group.