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JKCA money laundering case: ED attaches Rs 12 crore assets of Farooq Abdullah, others

The ED probe is linked to alleged financial irregularities found in the J&K Cricket Association, according to official sources on Saturday, December 19

twitter-logoBusinessToday.In | December 19, 2020 | Updated 20:01 IST
JKCA money laundering case: ED attaches Rs 12 crore assets of Farooq Abdullah, others
Former Jammu and Kashmir (J&K) Chief Minister Farooq Abdullah

The Enforcement Directorate (ED) has attached assets worth Rs 11.86 crore of former Jammu and Kashmir (J&K) Chief Minister Farooq Abdullah and several others with respect to a money laundering investigation.

The probe is linked to alleged financial irregularities found in the J&K Cricket Association, according to official sources on Saturday, December 19.

They also said the agency has issued a provisional attachment order under the Prevention of Money Laundering Act and the attached properties are located in Srinagar and Jammu.

Out of the properties attached, there are two immovable assets that are residential, one is a commercial property, while three other plots of land have also been attached by the ED, sources told PTI.

While the book value of these attached properties is ?11.86 crore, their market value is about ?60-70 crore, they added.

The 83-year-old NC patron has been questioned by the ED in this case a number of times, the last being in October at Srinagar.

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