ENFORCEMENT DIRECTORATE (ED) has taken physical possession of immovable properties worth Rs 6.20 crore belonging to Kashmiri businessman Zahoor Ahmad Shah Watali and his family members in connection with a case of alleged terror funding.
These properties, the ED has said, are in the form of parcels of land and are situated at Sozeith Goripora village in Budgam district of J&K.
“The attachment of these immovable properties have been confirmed by the Hon’ble Adjudicating Authority (PMLA). These attachments were made in the ongoing investigations under PMLA in the case against Hafiz Muhammad Saeed and others,” an ED statement said.
The ED case is based on a chargesheet filed by the NIA against Saeed and 11 others for allegedly fuelling unrest in Kashmir with funds sourced from Pakistan and through Saeed.
“Zahoor Ahmad Shah Watali has been found to be involved in raising of funds and acting as a financial conduit for Hurriyat leaders. He was remitting funds to the Hurriyat leaders and separatists. All Party Hurriyat Conference (APHC) and other secessionists instigated the general public, especially the youth, to observe strikes and resort to violence especially stone-pelting on the security forces at encounter sites,” the ED said in a statement.
According to the ED, one Naval Kishore Kapoor was instrumental in mobilising funds from unknown sources in Dubai and remitted the same to Watali and his company M/s Trison Farms and Construction Pvt. Ltd.
“The said transactions were carried out in the guise of a lease agreement between M/s Trison Farms and Construction Pvt. Ltd. and Naval Kishore Kapoor which was found to be only a legal façade to bring funds from unknown sources in Dubai to India. The funds involved in such transactions have been considered as proceeds of crime in terms of the Provisions of PMLA,” the ED said.