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| Kashmir businessman under scanner for Rs 100 Cr hawala funding! | | |
Early Times Report
Jammu, Nov 1: A businessman of Kashmir has come under the scanner of the investigating agencies for alleged Rs 100 crore hawala transactions.
Sources said the businessman has come under scanner after the Income Tax Department sleuths recently conducted raids against a Kashmir-based group engaged in various businesses.
Sources said during the raids the sleuths seized cash and jewelry amounting to over two crore from the residence of the businessman in Srinagar and elsewhere from his establishments.
Sources said the businessman is linked to the business group that runs real estate business apart from ventures of handicrafts and carpets.
Sources said while over a dozen premises were raided in Srinagar one establishment was also raided in the national capital.
Sources said the businessman also runs his commercial establishments in Bangalore.
Sources said the investigation agencies have inputs that a total of undisclosed transactions of Rs 105 Cr are being linked to the businessman or his partners.
Sources said apart from other business ventures the businessman and his family own huge commercial complexes at some of the busiest marketplaces in Srinagar.
“He also owns mall spanning over seventy five thousand square feet of area,” said the sources.
Sources said it was also found that the said businessman was also not paying the income tax properly.
“Till now the case was seen as irregularities in payment of taxes but now it seems to be a big case,” said a senior official on the condition of anonymity.
It is pertinent to mention that the Narendra Modi government has launched a major crackdown against people having minted fortunes disproportionate to their known sources of income in terror infested Kashmir.
The intelligence agencies apprehend hawala funding in such cases stating that such “minting of money was legally not possible.”
Despite repeated attempts the businessman was not available for comments. |
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