In a recent development, the Enforcement Directorate (ED) has issued a Foreign Exchange Management Act (FEMA) notice to the Jammu and Kashmir Liberation Front leader Yasin Malik on Friday.
The show cause notice was issued to Mushtaq Ahmad Dar, Yaseen Malik, and Shamima alias Shazia alias Bitti.
It was reported that the notice has been issued under the Foreign Exchange Management Act.
The Enforcement Directorate (ED) has mentioned in a notice that, “Mushtaq Ahmed had illegally received, acquired and got hold of USD 1,00,000 (equivalent to Rs 48.23 lakh) and illegally imported USD 30,000 (equivalent to Rs 44.5 lakh) into India without any permission from Reserve Bank”.
It was learned that in the year 2001, J&K police has seized around one lakh US dollars and made the arrest.
The four-page notice was complaining the complaint was received on 25 October.
The arrest warrant was made under the provisions of the Foreign Exchange Management Act.
The FEMA notice has been issued after the investigation was completed after over a decade-long probe.
The case was registered under the Section 3C and 4 of the FEMA.
Malik was arrested following the case but was later let off on bail.