ED raids NC Treasurer’s house, business establishments

Involvement in Hawala Transactions surfaces

• 5 locations searched in Srinagar; 2 in Delhi

STATE TIMES NEWS

JAMMU: Sleuths of Enforcement Directorate on Wednesday conducted raids at multiple locations across Srinagar as well as in Delhi including the commercial and residential premises of businessmen Saleem Ali, Shami Oberoi, Treasurer of National Conference and their other associates.
These searches have been conducted under the provisions of Foreign Exchange Management Act. It is suspected that these persons have been dealing with Hawala money in lieu of export and import that is trade based Hawala. During the searches, the ED teams have seized records and accounts books for scrutiny.
Around 5 locations have been raided in Srinagar and 2 locations were raided in Delhi by the agency. Further investigations are under process. The Enforcement Directorate, which is probing the case under sections of the Foreign Exchange Management Act (FEMA), suspects illegal transactions, sources said, adding that the ED investigators have established Hawala transactions and all the records seized during raids are being scrutinised.