ED Clamps Down on Al Falah University: Assets Seized Under Money Laundering Act

The Enforcement Directorate has seized assets worth Rs 140 crore of Al Falah University in Haryana following its links to a muive blast near Red Fort. Chairman Jawad Ahmed Siddiqui faces charges of money laundering related to false accreditation. The agency aims to prevent dispersion of crime proceeds.

The Enforcement Directorate (ED) has seized assets valued at approximately Rs 140 crore from Haryana's Al Falah University. This action comes in light of the November 10 blast near Red Fort, citing links with Al Falah Group's chairman, Jawad Ahmed Siddiqui, and questioning the university's accreditations.

The ED has accused Siddiqui and the university's managing trust of significant monetary deceit, alleging the generation of at least Rs 415.10 crore through fraudulent claims. These actions were part of a broader investigation into an alleged white-collar terror module connected to the educational institution.

The properties are attached under the Prevention of Money Laundering Act to prevent the misuse of crime proceeds. The government may appoint a receiver to manage the university to ensure the continuity of education, even as legal proceedings continue against Siddiqui and his trust.

(With inputs from agencies.)