New Delhi — The Directorate of Enforcement (ED) has recovered and seized movable assets worth around ₹10 crore, including approximately ₹3.70 crore in cash and nearly ₹6 crore worth of gold jewellery and bullion, during a major crackdown on individuals allegedly linked to a highly radicalised ISIS module associated with Saquib Nachan and others.
The agency also froze 25 bank accounts belonging to the accused and suspected associates as part of its ongoing money laundering investigation under the Prevention of Money Laundering Act (PMLA), 2002.
The seizures followed extensive search operations conducted earlier this month across 40 locations in multiple states and districts, including the Padgha–Borivali region near Mumbai, Delhi, Kolkata, Hazaribagh, Prayagraj, Daman and Ratnagiri. During the searches, officials recovered incriminating documents, literature promoting radicalisation, digital devices, and records related to immovable properties owned by the accused and other suspects, sources said.
The ED initiated the probe based on FIRs and charge sheets filed by the National Investigation Agency (NIA) under various provisions of the Indian Penal Code (IPC), the Unlawful Activities (Prevention) Act (UAPA) and the Explosive Substances Act. Investigations revealed that the individuals were allegedly involved in recruitment, training, procurement of weapons and explosives, and fundraising activities to sustain the operations of an ISIS-linked terror module.
According to intelligence inputs from the Maharashtra Anti-Terrorism Squad (ATS), members associated with the module were also engaged in illegal revenue-generating activities, particularly the clandestine cutting, smuggling and sale of Khair (Kaith) wood. The proceeds from these activities were suspected to have been diverted to fund extremist operations.
Financial analysis conducted by the ED indicated strong monetary linkages between various suspects and the accused, identified through scrutiny of bank transactions. Investigators also uncovered evidence pointing to hawala operations being used to move funds.
Given the gravity of the allegations and the potential threat to national security, the ED carried out searches at premises linked to the accused, their close associates and family members, as well as entities showing suspicious financial transactions. To further trace the network, searches were extended to businesses involved in the production of kattha, which were allegedly procuring Kaith wood sourced illegally from forest areas in the Padgha–Borivali region.
During the searches, suspected illegally obtained Kaith wood was recovered. The matter was subsequently reported to the jurisdictional Forest Department for necessary action, officials said.
The investigation is ongoing as the ED continues to trace the full financial and operational nexus behind the alleged terror-linked activities.
