[ad_1]
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 Rather, son of former Jammu and Kashmir minister Abdul Rahim Rather, officers mentioned.
They mentioned the raids are being carried out at 16 areas in Kashmir, Jammu, Delhi and Ludhiana.
The central probe company has discipline a cash laundering case towards Hilal Rather and others, below the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department 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 mentioned.
The CBI has alleged that Hilal Rather entered right into a legal conspiracy with the then officers of the J and Ok Bank to get loans of Rs 177.68 crore(approx) in violation of guidelines and pointers.
His father, a former finance minister of the erstwhile state of Jammu and Kashmir, is a National Conference (NC) chief.
(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
[ad_2]
Source hyperlink