ED attaches Rs 11.86 cr assets of Farooq and others in Jammu and Kashmir Cricket Association(JKCA) money laundering case.

Farooq Abdullah is the chairman of Jammu & Kashmir National Conference. He has served as the Chief Minister of Jammu and Kashmir on several occasions since 1982, and as the union minister for New and Renewable Energy between 2009 and 2014.The former Jammu and Kashmir chief minister Farooq Abdullah and other’s assets of worth Rs. 11.86 Cr, have been attached by the ED in connection with a Money Laundering case, as per the official sources reported on Saturday.
According to the reports, Two immovable assets are residential, one is a commercial property while three other plots of land have also been attached by the Enforcement Directorate(ED).
A Provisional Attachment Order has been issued by the agency under the PMLA Act(Prevention of Money Laundering Act),it has also been held that the properties attached are located in Jammu and Srinagar.
Although the market value of the assets are about 60-70 Crore while the book value is of 11.86 crore.
The ED has questioned Mr.Farooq numerous times, prior he was questioned in October in Srinagar.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s