Srinagar Police freeze Rs 13.43 crore in drug proceeds in major financial crackdown

In a significant blow to the financial networks sustaining drug trafficking in the region, Srinagar Police has frozen and attached multiple residential properties and a vehicle valued at more than ₹13.43 crore under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985.

The coordinated operation was executed by six police stations Khaniyar, Pantha Chowk, Shalteng, Safakadal, Soura and Ahmadnagar spanning different sub-divisions of the city. 

The properties were identified through financial investigations as assets allegedly acquired from the proceeds of illicit drug trade. Action was taken under Sections 68-E and 68-F of the NDPS Act after following prescribed legal procedures.

Sub-Division-Wise Details of the Action. Police Station Khanyar – Assets Worth ₹8 Crore.

Police Station Khanyar attached five assets belonging to four accused persons:

• Aijaz Ahmad Bhat (S/o Bashir Ahmad Bhat), resident of Budoobagh, Khanyar: A three-storeyed residential house on 7 marlas of land valued at ₹1.60 crore (FIR No. 37/2022, PS Khanyar).

• Aaqib Hyder Khan (S/o Mohammad Ayoub Khan), resident of Ghat No. 01, Dalgate: A Volkswagen Polo (registration DL3CBW-3549) valued at ₹6