ED attaches seven Srinagar-based Rs 1.56-cr assets in money laundering case
May 30, 2024
New Delhi [India], May 30 : The Enforcement Directorate (ED) has attached seven Jammu and Kashmir's Srinagar-based immovable properties worth Rs 1.56 crore of Imran Baba and his wife Sageena Yaseen, Partners of Baba Enterprises under Prevention of Money Laundering Act (PMLA), 2002.
ED's Srinagar unit attached these properties that include 17 Marlas land at Khasra No 1329, 1330,1331,1332, 1334 and 1335, Khewat No.92 and Khata No.182 in Mouja Barinambal in Srinagar; 26 Marlas land at Hyderpora and a Residential House at Hyderpora in Srinagar.
ED initiated an investigation on the basis of the First Information Report (FIR) registered by the Srinagar Anti Corruption Bureau against Imran Baba and some government officials of the Public Health Engineering Department (PHED), Kashmir.
In the FIR, it is alleged that spare parts for various Gaseous Chlorination Plants were procured by the PHED, Kashmir at a highly exorbitant price from Baba Enterprises which caused a huge loss to the government exchequer.
ED investigation revealed that Imran Baba supplied spare parts for the Chlorination Plants to PHED, Kashmir at a highly exorbitant price to the tune of 200 per cent of the actual price of the plant with the connivance of certain officials of PHED, Kashmir and thus generated the proceeds of crime to the tune of Rs 1.56 crore.
"It is further revealed that Imran Baba by utilising the proceeds of crime acquired these properties in the names of himself and his wife Sageena Yaseen," added the agency.
