ED Seizes Rs12 Crore Worth Properties Of Farooq Abdullah

20 Dec, 2020 13:38 IST|Sakshi Post

The Enforcement Directorate (ED) seized 3 residential houses in Jammu & Kashmir, a commercial building in Srinagar, 4 lands in J&K totaling to  ₹ 11.86 Crores of Farooq Abdullah (83), former Chief Minister of J&K under PMLA in a case of laundering of funds of Jammu & Kashmir Cricket Association.

Abdullah had one property each at Gupkar Road, Srinagar, Tehsil Katipora, Tanmarg and Bhatindi in Jammu. "We have attached six properties of Abdullah in which three are residential buildings while two are plots. The properties have been attached under the Prevention of Money Laundering Act (PMLA),” said an ED source.

The value of the properties in the books are written as around Rs 11.86 crore but according to the reports, the actual market value is around Rs 60-70 crore.

Farooq has been questioned multiple times by ED for his alleged fraud regarding funds during his term as chairman of the J&K Cricket Association. For the period between 2006 to January 2012, under Farooq Abdullah’s presidency of JKCA there were a lot of illegal activities taking place. Abdullah allegedly appointed office personnel in order to launder money and misused JKCA funds.   

Farooq Abdullah’s son took to twitter in order to talk about the seized properties. "The properties attached are largely ancestral dating from the 1970s with the most recent one built before 2003. There can be no justification for the seizures because they fail the very basic test of having been acquired as the proceeds of the “crime” being investigated,” added Omar Abdullah.

He said they will take this matter to court and fight legally.

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