"Around 1.15 crores cash was recovered from three different locations by NIA", sources said.
The NIA teams, which had been camping in Valley, were assisted by police and paramilitary CRPF personnel during the raids.
Two businessmen, Muhstaq Chaya and Manzoor Wangnoo, whose names were circulated as among the persons whose houses were raided, refuted the "rumours".
Recently, the agency questioned Tehreek-e-Hurriyat leader Ghazi Javed Baba, Jammu and Kashmir Liberation Front (JKLF) leader Farooq Ahmed Dar aka Bitta Karate and suspended Hurriyat leader Nayeem Khan for over eight hours. It is also said that the raids will continue this afternoon, as reported by the Times of India.
The NIA, which had earlier registered a Preliminary Enquiry, converted it into a Regular Case last evening and began searches early this morning.
NIA, which earlier scrutinised five bank accounts allegedly linked to Syed Ali Shah Geelani, as part of its probe into suspected terror funding, also registered a case against the hardline separatist leader.
During the searches, a cash amount of Rs 2 crore was seized from various locations involving separatists and their sympathisers and property-related documents, letter heads of banned terrorist organisations such as Lashker-e-Taiba and Hizbul Mujahideen were recovered, official sources said. Fresh locations revealed during the questioning of the inmates will also be searched, the spokesperson added. The NIA also seized gold jewellery worth Rs 40 lakh.
Sources said the raids were targeted at alleged hawala operations between Pak-based terror groups and Kashmiri separatists.
The raids in the national capital were carried out after some separatist leaders were seen confessing in a sting operation video that they received funds from Pakistan via middlemen based in Ballimaran and Chandni Chowk.
"It is blackmailing, a ploy and a character assassination campaign against leadership so that they surrender and stop voicing the sentiments of their nation, thereby covering and shielding the atrocities and barbarism against common and unarmed people", the statement said.
The Enforcement Directorate (ED) on Saturday issued a notice to separatist leader Shabir Shah under the Foreign Exchange Management Act (FEMA) act for receiving illegal foreign exchange. "Law will take its own course", Singh told reporters.