Father Anthony’s firm sold books worth Rs 31 crore in March, gives I-T dept proof

The I-T department, meanwhile, is probing the source of funds recovered from the priest. The police had not registered any case in the matter after handing over the cash to the tax officials soon after the raid.

Sources in the I-T department told The Indian Express, ”According to the details submitted to us, 49 book selling counters were set up by priests’ company in various schools under Diocese of Jalandhar across Punjab where the books worth Rs 31 crore have been sold in the month of March 2019 out of which the collection from majority schools have already been received.” The added that Sahodya has also provided proof of depositing Rs 14 crore in the South Indian Bank, Jalandhar and bills for remaining around Rs 17 crore, the amount they claim includes money recovered by police (Rs 9.66 crore) and the alleged misappropriated amount of over Rs 6 crore.

A senior I-T official said: “They have also mentioned the number of students to whom books were sold and now we are verifying each details and bills to get a clear picture about everything and the total amount involved in it.”

Father Anthony said that all details sought by the I-T department had been submitted, and he was hopeful that after checking everything “our legal money would come back to us soon”.

Diocese infighting led to expose

It was an internal fight between a few priests over the big money and powerful positions in Diocese of Jalandhar that led to this expose about private business of the priests. This development, Diocese insiders said, is likely to force church authorities to put some checks on business activities of the priests.

A senior priest under Jalandhar Diocese said that while a few priests want to run the individual NGOs on the pretext of charitable activities, some former Bishops of Jalandhar are in favour of such activities being through a proper board of the priests in order to maintain transparency.

When Navjeewan Charitable Society and Sahodaya came into existence under the tenure of former Bishops Father Anil Cuttu and Franco Mullakkal, respectively, it was objected to by the other group, he added.

“Gradually this fight between these two groups reached an extreme and these facts came to light,” said the senior priest, adding that this exposure was good for church and its future.

Father Anthony set up NBFC in 2016

Father Anthony Madassery also set up a Non Banking Financial Company (NBFC) — ‘Navjeevan Nidhi Limited’ — in 2016 after getting a licence from the Reserve bank of India. Gradually, an NBFC can be converted into a bank after acquiring a banking licence.

The NBFCs are also known as banking institutions that provide services similar to traditional commercial banks but outside normal banking regulation. Unlike a bank, an NBFC only requires a small amount, may be a few lakhs, as the capital investment to begin.

Navjeevan Nidhi Limited was incorporated on May 13 , 2016. It is classified as a non-government company and registered with the Registrar of Companies, Chandigarh, with an authorised share capital is Rs 15,00,000 and paid up capital is Rs 14,19,300. The company has three directors.

Sources close to the priest said: “The office for the same has been set up in Karol Bagh area of Jalandhar and some accounts have already been opened. Proper functioning is slated to begin in 2020 as branches across Punjab will be opened and the process of identifying potential places is underway.”

This NBFC has not been registered under Sahodaya, but is an independent entity.

Father Anthony admitted to setting up of an NBFC by him, and said that it has been set up under the ambit of law and with the permission of the Diocese. “The proper functioning of the NBFC has not started yet but yes we have got the licence for it from RBI and had set up its office and opened a few accounts,” he said, adding that it was not under Sahodaya.

“We want to facilitate small loans for poor for education, marriage and farming purposes which requires lot of formalities in the banks,” he said, adding that an account with just Rs 10 can be opened in it.