India, Nov. 20 -- A Delhi court on Wednesday sent Jawad Ahmed Siddiqui, chairman of Faridabad-based Al-Falah University, to 13 days of Enforcement Directorate (ED) custody, observing that the money-laundering investigation against him was at a "nascent stage" and that the allegations carried "significant gravity."

In its remand note placed before the court on Wednesday, ED has alleged that Siddiqui generated more than Rs.415 crore through sustained misrepresentation of the institution's accreditation and statutory status, layering the funds through family-linked entities and exercising complete control over financial decisions across the group.

Ed said its probe under the Prevention of Money Laundering Act (PMLA) stemmed from two predic...