"Even though the facts and law are in my favour, I have decided to set a high moral standard in my public life and submitted my resignation as General Secretary of PDP to the party President (Mehbooba Mufti)," Mir said, claiming innocence.
Mir was convicted by a CBI court on Friday in a case related to wrongful release of Rs 30 lakh and contract for sale of urea to his firm by public sector National Fertilisers Limited in 1993-96.
Moreover, he claimed that the court has noted and accepted the fact that as a public servant, "I have had impeccable and clean record."
"I am confident that in due process of law, truth and justice will prevail and my position will be vindicated. I am thankful to thousands of friends and well wishers, including my workers and overwhelming majority of my constituency, for their support, good wishes and prayers," he said.