Jammu, Jan 21 (IANS): Enforcement Directorate (ED) said on Tuesday that the agency had attached properties with Rs 14.93 crore under the Prevention of Money Laundering Act (PMLA) 2002 in J&K.
The agency said that property worth Rs 14.93 crore in the form of Hotel Trinetra Resorts and Hotel Green Orchid both at Patnitop (J&K) has been provisionally attached in the Patnitop Development Authority (PDA) case under the Prevention of Money Laundering Act (PMLA), 2002.
“Initiated investigation on the basis of FIR registered by CBI, ACB, Jammu against and various owners/directors of the hotels/guest house/resorts/cottages/residences, in the Patnitop area, and officials of PDA, that such hotels/guest houses/ resorts indulged in commercial use of residential buildings, excess construction beyond approved limits, operating businesses in prohibited areas (dense forests, agricultural areas, residential areas) etc., wherein lapses of compliances were overlooked by PDA officials,” the ED said.
The agency added that investigations revealed that Hotel Trinetra Resorts and Hotel Green Orchid were built beyond the area permitted by the PDA, adding that both had undertaken illegal construction beyond approved limits and acquired illegally encroached land while generating revenue from utilising the same.
“The illegally acquired land and the revenue so generated constituting the Proceeds of Crime have been attached. Further investigation is under progress”, the ED said.
The investigating agencies have been acting tough against drug smugglers, pedlars and those involved in money laundering and other financial crimes.
Intelligence agencies suggest that proceeds of drug smuggling, money laundering etc are being used for providing financial and logistical support support to terrorism in J&K.
The proceeds of such illegal activities are used to provide money for anti-national activities. Drugs are smuggled into J&K directly through the Line of Control (LoC) and the International Border (IB) from Pakistan and the conduits of this trade are directly connected with the terrorists, intelligence agencies say.