ED attaches Srinagar-based assets worth Rs 1.56-crore in PMLA case

New Delhi, May 30

The Enforcement Directorate (ED) has attached seven 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 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 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 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 PHED officials 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.