ED penalizes Geelani for ‘illegal possession of $10,000’, orders confiscation of ‘illegal acquisition of foreign exchange recovered from Malik’

Srinagar: The Enforcement Directorate has levied a penalty of Rs 14.40 lakh and ordered confiscation of nearly Rs 6.8 lakh in connection with a FEMA case against Hurriyat (G) Chairman Syed Ali Shah Geelani.

The Enforcement Directorate will also impose a penalty and confiscate the ‘illegal acquisition of foreign exchange recovered from Yasin Malik’, Chairman of the Jammu and Kashmir Liberation Front.

The case pertains to Geelani in illegal possession of foreign exchange, a case which was being investigated by the ED under the Foreign Exchange Management Act (FEMA).

After completion of the probe and adjudication proceeding, the Enforcement Directorate issued an order on March 20 under the FEMA, levying the Rs 14.40 lakh penalty and confiscating forex of USD 10,000 (nearly Rs 6.8 lakh) that was allegedly recovered from Geelani, officials said.

The case was taken up by the ED on the basis of an Income Tax Department complaint against Geelani.

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