ED attaches SP leader Azam Khan's Jauhar University property worth Rs 1,170 crore
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Enforcement Directorate attached the Mohammad Ali Jauhar University property worth Rs 1,170 crore on Wednesday.
- ✓The agency said it took this action under the Prevention of Money Laundering Act.
- ✓Officials alleged that Azam Khan used public funds and grabbed land illegally to build the campus in Rampur, Uttar Pradesh.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 7 Minute(s)
- Market Focus
- India Economy
Synopsis
The Enforcement Directorate has provisionally attached the assets of Mohammad Ali Jauhar University in Rampur. This action is taken under the Prevention of Money Laundering Act based on allegations against Azam Khan and others. Allegations include the illegal acquisition of land and misappropriation of public funds for the university's construction. Previous investigations revealed significant discrepancies in the financial records of the associated Trust.
New Delhi: The Enforcement Directorate (ED) has attached the land and building of Samajwadi Party leader Mohammad Azam Khan's Mohammad Ali Jauhar University, with a book value of Rs 426 crore and an estimated current market value of Rs 1,170 crore, the agency said on Wednesday.
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The Economic Times
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