In a massive move, the Enforcement Directorate (ED) on Thursday registered a money laundering case against Markaz chief Maulana Muhammad Saad Kandhlawi and his outfit. ED is the first central agency to have taken this decisive step to register a case to further probe the flow of money and its source. Apart from ED, Republic TV has also learnt that Income Tax (I-T) department has also started scrutinising the accounts of Saad and other members of the outfit.
Maulana Saad is likely to be summoned by ED very soon. A top source in the agency confirmed to Republic TV that the agency was conducting a parallel investigation and was making enquiries for the last few weeks. In fact, ED’s action is based on the predicate offence registered by the Delhi Police Crime Branch. The case has been registered under the provisions of PMLA.
Delhi Police Crime Branch has found a spike in Maulana Saad’s bank accounts before Markaz started. Police suspect that this is because of the 2000 odd foreigners who came and made foreign donations. Markaz hasn't shared bank details except for some documents. The crime branch will question the accountants who handled Markaz account.
The Income Tax department, meanwhile, is studying the source of the funds received by Saad and his organisation. The department is probing whether there is any tax evasion by Saad or other members of the outfit. The department is scrutinising the account books and is looking into the source of funding. The source of their funding will be tallied with the accounts of the depositors to probe if there are any discrepancies.