New Delhi:
The Enforcement Directorate (ED) on Thursday launched a number of raids in reference to a cash laundering case linked to an alleged financial institution fraud probe towards Hilal Somewhat, son of former Jammu and Kashmir minister Abdul Rahim Somewhat, officers stated.
They stated the raids are being carried out at 16 places in Kashmir, Jammu, Delhi and Ludhiana.
The central probe company has area a cash laundering case towards Hilal Somewhat and others, below the Prevention of Cash Laundering Act (PMLA), taking cognisance of a CBI FIR and Revenue Tax Division probe towards him and pertains to a Rs 177-crore alleged financial institution fraud rip-off.
The raids are aimed to collect extra proof, they stated.
The CBI has alleged that Hilal Somewhat entered right into a legal conspiracy with the then officers of the J and Okay Financial institution to get loans of Rs 177.68 crore(approx) in violation of guidelines and tips.
His father, a former finance minister of the erstwhile state of Jammu and Kashmir, is a Nationwide Convention (NC) chief.
(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
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