ED takes possession of assets of Kashmiri businessman

The Enforcement Directorate has taken into possession immovable properties worth ₹6.20 crore, of Kashmiri businessman Zahoor Ahmad Shah Watali in a terror funding case. The case is against Lashkar-e-Taiba founder Hafiz Saeed and others. “The properties are located at Budgam in Jammu and Kashmir. Action has been taken under the Prevention of Money Laundering Act,” an official said.

The ED’s probe is based on a chargesheet filed by the National Investigation Agency (NIA) under the Unlawful Activities (Prevention) Act. It alleges that Mr. Watali was raising funds and acting as a financial conduit for the Hurriyat leaders.

“He was remitting funds to the Hurriyat leaders and separatists. The All Party Hurriyat Conference and other secessionists instigated the public, especially the youth, to observe strikes and resort to violence, especially stone-throwing on security forces at encounter sites,” it said.

Accused Naval Kishore Kapoor mobilised funds from unknown sources in Dubai and remitted them to Mr. Watali and his company Trison Farms and Construction Private Limited. “The said transactions were carried out in the guise of a lease agreement between Trison Farms and Construction and Mr. Kapoor,” it alleged.

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Printable version | Feb 22, 2020 1:23:10 PM |

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