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| As authorities sleep over Hawala transactions, infamous raise fortunes through shady deals | | | Jehangir Rashid
SRINAGAR, Dec 6: A group of Kashmiri businessmen have benefitted a lot by the hawala money and yet evaded any action due to lackadaisical attitude of the administration. These businessmen have developed from rags to riches and continue to grow geometrically even today.
A business house owned by four brothers has spread its businesses across the Srinagar city by allegedly receiving money from illegal sources and are now counted amongst influential business families of Kashmir.
Sources told Early Times that up to 1990 the infamous four brothers basically hailing from downtown Srinagar had hardly any property, but the things have changed since then. They have owned shops in the hub of summer capital and have also constructed palatial houses on the highway connecting Baramulla with Srinagar and subsequently with Jammu, the winter capital of the state.
"In 1990 they had hardly any business and they would live from hand to mouth. Today, they are the owners of three huge shops in Srinagar and also a commercial complex in the Karan Nagar area. All this has been possible due to their access to hawala money being sent to militants and separatists in Kashmir valley," said sources.
Sources said that these brothers own a Departmental Store in Regal Chowk, a garment house on Residency Road and another one in Abi Guzar area of Srinagar city. They are also the owners of a prominent Shopping Complex in Karan Nagar area of Srinagar city. This shopping complex was sealed by Srinagar Municipal Corporation as it had come up in violation of Master Plan.
"These brothers have their eyes set on the prime property of a Shopping Complex located on the Residency Road. They are claiming that they have got the rights of the shopping complex and asked the shopkeepers of the complex to vacate their business establishments. This has infuriated the shopkeepers and they have already raised their objection over the proposed move," said the sources.
Sources said that these brothers have constructed four houses in the Hyderpora area each on five kanals of land. The residential property of these brothers is said to be between Rs eight to 10 crores each. The cumulative value of the residential property is said to be around Rs 50 crores and this is yet to come under the agencies entrusted with the responsibility of checking such malpractices.
These brothers have struck deals with militant and separatists over the years and the results are there to show. Some of the shady land deals of property belonging to Kashmiri Pandits has also been carried out by the quartet and they continue to do the same," said the sources. |
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