ED Attaches Glocal University Assets in Probe Against Former Owner

New Delhi, [Date] – The Enforcement Directorate (ED) has attached the land and building of Glocal University in Saharanpur, Uttar Pradesh, as part of its investigation into alleged financial irregularities by the university’s former owner, [Name of Former Owner].

The ED’s probe centers around allegations of money laundering and violation of foreign exchange regulations linked to the acquisition and operation of the university. The agency suspects that [Name of Former Owner] used illicit funds to establish and run Glocal University, potentially diverting funds meant for educational purposes.

The attachment order, issued under the Prevention of Money Laundering Act (PMLA), covers the university’s main campus, which includes classrooms, laboratories, and administrative buildings.

The ED has been investigating the case for several months, following a complaint from the Central Bureau of Investigation (CBI). The CBI initiated its investigation after receiving allegations of irregularities in the university’s finances.

[Name of Former Owner] has denied any wrongdoing, claiming the ED’s action is politically motivated. However, the ED’s investigation continues, with officials determined to unravel the alleged financial discrepancies and ensure accountability.

The attachment of Glocal University’s assets raises concerns about the future of the institution and its students. While the university’s operation is not directly affected by the ED action, the uncertainty surrounding the ongoing investigation could impact its academic standing and future prospects.

Keywords: Enforcement Directorate, ED, Glocal University, Saharanpur, Uttar Pradesh, Money Laundering, Foreign Exchange Regulations, PMLA, [Name of Former Owner], CBI, Assets, Investigation, Financial Irregularities.