New Delhi, August 30: The Enforcement Directorate had said that the concerned Adjudicating Authority has held Kashmiri businessman Zahoor Ahmed Shah Watali guilty of contravening the Foreign Exchange Management Act and imposed on him a fine of Rs 62 lakh.
Watali is also being investigated for funding terror in the Kashmir Valley. The Authority imposed a penalty of Rs 62 lakh in a case of operating Non-Resident saving accounts (NRE and NRO) account in HSBC Bank at New Delhi in an unauthorized manner.
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