Mumbai, Dec 13: In a coordinated multi-state operation targeting an allegedly highly radicalised, ISIS-inspired terror module linked to the late Saquib Nachan and his associates, the Enforcement Directorate (ED) seized movable assets worth approximately Rs 9.70 crore. The seizure included around Rs 3.70 crore in cash and gold jewellery and bullion valued at about Rs 6 crore. Additionally, 25 bank accounts associated with the accused and suspects were frozen, the central agency said on Saturday.
Searches Under PMLA Across Multiple States
Officials said the searches and seizures were carried out under the Prevention of Money Laundering Act (PMLA), 2002. On Thursday, the ED conducted a coordinated inter-state crackdown, covering 40 locations across Maharashtra, including the Padgha-Borivali belt in Thane district and Ratnagiri, as well as Delhi, Kolkata, Hazaribagh, Prayagraj and Daman. Digital devices, radical literature, incriminating documents and details of immovable properties allegedly belonging to Nachan, his family members and associates were also seized during the operation.
Probe Aimed at Disrupting Terror Funding
“The operation is part of an ongoing probe into individuals involved in the ISIS-linked terror module associated with Nachan. The raid’s aim is to disrupt the financial networks that sustain extremist activities and bring to justice those facilitating terror funding,” an ED official said.
NIA Case Forms Basis of ED Investigation
The ED’s money laundering investigation is based on FIRs and charge sheets filed by the National Investigation Agency (NIA) in RC-29/2023/NIA/DLI, under various provisions of the Indian Penal Code (IPC), the Unlawful Activities (Prevention) Act and the Explosive Substances Act. Investigators found that Nachan, a former office-bearer of the banned Students Islamic Movement of India (SIMI) and an alleged ISIS “Ameer-e-Hind”, along with his associates, was involved in the recruitment, training and radicalisation of operatives, procurement of weapons and explosives, and raising funds to sustain the terror module. Officials added that even after Nachan’s death, the network continued to function, with his ideological influence persisting through operatives and sympathisers.
Hawala Links Through Timber Trade
According to an ED official statement, the agency found hawala transactions linked to the timber trade and terror module funding during the investigation. The financial probe agency received intelligence from the Maharashtra Anti-Terrorism Squad (ATS) that members of the Borivali-Padgha ISIS module were involved in illicit revenue-generating activities, including the clandestine cutting, smuggling and sale of Khair (Kaith) wood, with proceeds suspected to be diverted for extremist purposes.
The wood, locally known as Khair, is used to extract Kattha, which is widely used in paan and as an ingredient in Ayurvedic medicines.
Illegal Forest Felling and Cash Generation
During its financial analysis, the ED found that several individuals linked to the module were illegally cutting and smuggling Khair trees from reserve forest areas in Padgha-Borivali. The timber was transported through discreet routes to evade enforcement checks and supplied to Kattha production companies, which processed the wood to extract catechu (kattha) for commercial sale. Investigators noted that the clandestine cutting, transportation and sale of timber generated substantial unaccounted cash, which was suspected to be diverted for extremist purposes, effectively serving as a covert financing channel for anti-national activities.
Searches at Kattha Firms and Forest Action
To further unearth the nexus, the ED conducted searches in Daman and multiple states at companies and entities involved in Kattha production, which were procuring Khair (Kaith) wood from associates of the late Saquib Nachan. During the search operation, suspected Khair (Kaith) wood, prima facie obtained illegally, was recovered, and the jurisdictional Forest Department was informed by the ED for appropriate action.
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Financial Linkages Under Scanner
Through a detailed analysis of bank accounts, the ED identified multiple financial linkages between the suspects, the late Saquib Nachan and other individuals. This prompted targeted raids on Nachan’s residences, the premises of his family members and entities involved in suspicious transactions. Digital devices, documents and other evidence seized during the searches are expected to provide further insights into the terror module’s funding mechanisms.
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