Property Worth Rs 75 Lakh Seized for Being ‘Proceeds of Drug Trafficking’ in Lal Bazar
Malik Faizan
Srinagar, Nov 26, KNT: Srinagar Police on Wednesday attached a double-storey residential house along with four marlas of land in Usmania Colony, Badamwari, after authorities concluded that the property had been acquired through proceeds generated from drug trafficking. Officials said the seized asset is valued at around seventy five lakh rupees.
As per revenue documents, the property stands registered in the name of Arshid Ahmed Sheikh, son of Wali Mohammad Sheikh, a inhabitant of the locality. Arshid Ahmed is presently lodged in District Central Jail Srinagar in connection with FIR 50 of 2025 registered under sections 8 and 20 of the NDPS Act at Police Station Lal Bazar. He has also been named in FIR 31 of 2025 under sections 8, 21 and 22 of the NDPS Act at Police Station Janipur Jammu.
Investigators established that the accused had raised the property using illegal proceeds from narcotics trafficking. Following this, the competent authority ordered attachment under section 68 F of the NDPS Act. The action was carried out in the presence of the Executive Magistrate First Class Khanyar and two independent witnesses, with officials emphasising that all legal procedures were observed.
Approval for the attachment was granted by the competent authority SAFEMA New Delhi, and due notice was served as required under law. As per the order, the owner is barred from selling, leasing, altering or creating any third party interest in the property. [KNT]
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