17 accounts are under investigation for terror funding in Kashmir with nearly Rs 38 crores. (File Photo)
One of two investigations into alleged terror funding in Jammu and Kashmir is "as good as closed", sources in the National Investigation Agency have told NDTV. The anti-terror agency had started the investigations to bust the channels of money from across the border that keeps Kashmir Valley on the boil.
A preliminary inquiry was launched by the agency in August, as stone pelting protests swept across Kashmir following the death of Hizbul Mujahideen terrorist Burhan Wani. The protests and the following clashes had virtually brought Kashmir to a standstill for nearly five months.
But so far nothing illegal has been found in the transactions of the 17 accounts under investigation, which, contain nearly Rs. 38 crore in total, sources said.
A senior official of the NIA said it was "not right" to say that the probe has been "closed".
"But yes, the preliminary inquiry has not revealed any illegality so far and there is no investigation on it currently," he said.
The agency, he added, was "strong" on the other case filed on terror funding related to Hurriyat leaders, "in which some evidence has been collected".
The inquiry in the case had started in May after allegations that Hurriyat leaders Syed Ali Shah Geelani, Nayeem Khan, Bitta Karate and Ghazi Baba were receiving funds from Pakistan through Lashkar-e-Taiba chief Hafiz Saeed. Earlier this month, 14 raids were conducted in Jammu and Kashmir, seven in Delhi and one in neighbouring Haryana.
A case of money laundering was filed against separatists without naming any particular leader and Lashkar-e-Taiba chief Hafiz Saeed.