New Delhi [India], May 2 : Saket Court on Saturday dismissed the regular bail plea of Jawad Ahmed Siddique. He sought a regular bail in a money laundering case connected with Al Falah Trust. The Enforcement Directorate (ED) has already filed a charge sheet against him.
It is alleged that the Trust generated proceeds of crime quantified at Rs. 493.24 Crore, being the fee receipts obtained by inducing admissions of students in institutions.
It is alleged by the prosecuting agency that the applicant deceived multiple regulators to obtain an Essentiality Certificate from the Government of Haryana and the permissions from the National Medical Commission.
Additional Sessions Judge (ASJ) Sheetal Chaudhary Pradhan dismissed the bail application after hearing arguements by counsel for accsued and the ED.
While rejecting the bail, the court noted, " It is evident that the POC generated from the Al-Falah University/trust/college were routed through the related parties, i.e. Amla Enterprises LLP, Karkun Constructions & Developers and Diyala Construction and Developers Pvt Ltd, owned by his wife, children, and trusted employees, but ultimately controlled by himself, took money from India to abroad and invested in the business, movable and immovable properties abroad."
"Thus, as Managing Trustee and Chancellor, he abused his fiduciary duties by using charitable and educational institutions as instruments for personal, family, and commercial benefit, in violation of statutory obligations," ASJ Sheetal Chaudhary Pradhan said in the order.
Siddique had moved an application through advocate Talib Mustafa.
Special Counsel Zoheb Hossain, assisted by Pranjal Tripathi, appeared for the ED. He opposed the bail application on various grounds.
It was submitted that the multiple fraudulent means were employed by the accused and the Al-Falah group for luring students, obtaining permissions from various regulators through forged/ false/manipulated means.
The aggregate income for years out of NAAC accreditation and false projection of UGC recognition under section 12(B), resulted in the generation of proceeds of crime by the accused in the form of educational receipts received by Al-Falah Charitable Trust, Al-Falah University and all the institutes, including the Medical college under Al-Falah Charitable Trust, comes to Rs. 493.24 Crore, the ED said.
The agency also submitted that the Delhi Police crime branch has filed a charge sheet against him.
Earlier, Advocate Zoheb Hossain argued that it is a serious case. Some of the accsued named in the Delhi Blast case were working at the Al Falah University, Faridabad.