Bank fraud case: ED raids former J-K minister’s son Hilal Rather

The central probe agency has field a money laundering case against Hilal Rather and others, under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department probe against him and pertains to a ₹177-crore alleged bank fraud scam.

Updated on: Aug 6, 2020, 15:35:30 IST

New Delhi | By HT News Desk

Prefer HTon Google

Share via

Copy link

The Enforcement Directorate (ED) on Thursday launched multiple raids in connection with a money laundering case linked to an alleged bank fraud probe against Hilal Rather, son of former Jammu and Kashmir minister Abdul Rahim Rather, officials said.

They said the raids are being conducted at 16 locations in Kashmir, Jammu, Delhi and Ludhiana.

The central probe agency has field a money laundering case against Hilal Rather and others, under the Prevention of Money Laundering Act (PMLA), taking cognisance of a CBI FIR and Income Tax Department probe against him and pertains to a ₹177-crore alleged bank fraud scam.

The raids are aimed to gather more evidence, they said.

The CBI has alleged that Hilal Rather entered into a criminal conspiracy with the then officials of the J and K Bank to get loans of ₹177.68 crore(approx) in violation of rules and guidelines. His father, a former finance minister of the erstwhile state of Jammu and Kashmir, is a National Conference (NC) leader.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More