The Enforcement Directorate (ED) on Friday issued a show cause notice to Jammu Kashmir Liberation Front (JKLF) chief Yasin Malik and others for violating Foreign Exchange Management Act, 1999 (FEMA).
On March 15, the ED had summoned Malik and separatist leader Syed Ali Shah Geelani in different money laundering and FEMA cases.
In 2001, the Jammu and Kashmir police seized one lakh dollar (about Rs 48.23 lakh according to conversion rates at the time) from Srinagar -based Mushtaq Ahmad Dar and his wife Shazia Rasool.
During examination, Dar had said that the money was handed over to him by a Nepal-based citizen and was to be handed over to Yasin Malik.
Dar claimed that he got the money from a Nepalese citizen, adding the same was meant for Yasin Malik.
Malik was arrested but was later let off on bail.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app