Image of Hurriyat leaders linked with terror funding in the Kashmir Valley used for representational purposes.
Image of Hurriyat leaders linked with terror funding in the Kashmir Valley used for representational purposes.(Photo: Liju Joseph / The Quint)
  • 1. Who are These Nine Men?
  • 2. How Did This Case Unfold?
  • 3. Who are the Key Players Allegedly Involved in Funding...
  • 4. Prominent Terror-Funding Raids by NIA
J&K’s Terror Funding Problem as NIA Extends Custody of Accused

Jammu and Kashmir may have seen a decline in violence since 2001, as reported by The Kashmir Herald, but there is enough proof that terrorism continues to thrive in the state, due to a steady flow of funds to terror networks. Not even heightened global surveillance has managed to stop the flow of finances for jihad in J&K. An estimated Rs 25-crore to Rs 30-crore is allegedly transferred to separatists and militants each month from Pakistan, as told to the South Asia Intelligence Review by security forces.

On 7 November, the National Investigation Agency (NIA) seized over Rs 36-crore in demonetised currency from a gang of nine people in Delhi after arresting them. During the investigation, it was revealed that the gang bought the old currency at 10-40 percent of its original value, from all kinds of different sources, spending between Rs 3.6 and 14.4 crore on the purchase.

According to the NIA, these nine persons were put under surveillance in the Jammu and Kashmir terror funding case, when they were intercepted while talking to separatist leaders. A Delhi Court, on Tuesday, 21 November, extended their judicial custody till Wednesday, 30 November.

  • 1. Who are These Nine Men?

    Image of Hurriyat leaders linked with terror funding in the Kashmir Valley used for representational purposes.
    (Infographic: Rahul Gupta/The Quint)

    The nine men arrested by the NIA for their alleged terror-funding activities hail from Mumbai, Delhi, Srinagar, Pulwama, Anantnag and Amroha. The NIA says that seven of the nine had been working in close coordination – most were businessmen but some were also hawala transactors.

    However, the key accused in the case is an assistant sub-inspector Bhagwan Singh.

    The accused were found carrying 28 cartons filled with demonetised Rs 500 and Rs 1000 notes in four luxury vehicles. However, it is still not clear where were they heading to with these old notes.

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