ED raids at 2 businessmen’s multiple locations in Srinagar, Delhi, NC treasurer’s premises searched

JAMMU/SRINAGAR: The Enforcement Directorate today conducted raids at multiple locations in Srinagar and New Delhi including commercial and residential premises of businessmen, one of them affiliated with the National Conference on the suspicion of dealing with hawala money.

The TATA Motors Showroom under the name and style of Fair Deal Trucks owned by Muhammad Saleem Bakshi son of Bashir Ahmad Bakshi, a resident of Sonwar and Numero Uno jeans showroom at Rajbagh belonging to Harry Singh and Shami Singh sons of Dharamveer Singh Oberoi of Shivpora, affiliated with National Conference and their other other business and residential premises were searched by the Enforcement Directorate in Srinagar and New Delhi simultaneously.

The Enforcement Directorate sleuths also searched house of Shami Oberoi at Shivpora in Srinagar.

Official sources told the Excelsior that searches were conducted under the provisions of Foreign Exchange Management Act (FEMA).

The Enforcement Directorate suspects that these persons have been dealing with hawala money in lieu of export and import called as “hawala based trade”.

A total of six locations were searched in Srinagar and three in New Delhi.

“Incriminating documents were seized by the Enforcement directorate during the searches which were conducted under the supervision of senior officers,” sources said.

In Jammu and Kashmir, Foreign Exchange Management Act related cases are registered as it is seen as roots of hawala transactions under the garb of export and import of goods, sources added.

Further investigations in the case have been initiated by the Enforcement Directorate teams.