Terrorism

The ED said that cash transactions worth more than Rs 50 crore were also detected during the searches. The raids were conducted at 15 locations. According to a source, the raids were conducted at the premises belonging to chartered accountant Sabeeh Ahmed, Asif Jafri, Seetaram Shukla, real estate developers Sanjeev Aggarwal and Deepak Bhargav, advocate-cum-accomplice Saulat Hanif Khan and other aides Khalid Zafar, Asad, Vadood Ahmed, Kali and Mohsin.

There is a real danger that nuclear-armed Pakistan with a population of nearly 230 million people may be unable to meet its external debt obligations -- which will trigger a sovereign default, it said. If Pakistan ultimately defaults, there will be a cascade of disruptive effects. Crucially, Pakistan's imports could be disrupted.