Probe indicates monastery cash may be offerings

Investigations revealed that those managing the affairs at the monastery were maintaining detailed records of the foreign monies being offered to the Karmapa

The cash amounting to Rs 7.05 crore in 26 foreign currencies recovered from Gyuto Monastery the abode of 17th Karmapa Ogyen Trinley Dorje may turn out to be offerings by devotees.

Government sources have told The Indian Express that the Enforcement Directorate (ED),that was tasked with investigating the angle of the foreign currencies under the Foreign Exchange Management Act (FEMA),is more or less convinced that the huge stockpile of foreign currencies was actually the offerings made by devotees over a period of time.

Investigations revealed that those managing the affairs at the monastery were maintaining detailed records of the foreign monies being offered to the Karmapa. But they did not get these currencies converted into Indian currency within the stipulated time of 180 days, a government source said. So,the violation of law is only related to the fact that these foreign currencies were being kept in the monastery beyond the period allowed under the rules.

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Sources said the monastery had actually approached the Ministry of Home Affairs a couple of times,seeking permission to receive such offerings under the Foreign Contribution Regulation Act (FCRA) but had not received any response. Also,investigations so far have indicated that the cash amounting to Rs 1 crore intercepted by the Himachal Pradesh Police in January was majorly made up of monies received as offerings in Gaya in Bihar.

While the police have deposited the amount of Rs 1 crore into the states treasury,they are fighting with the ED over the cash found in 26 currencies. Three weeks ago,a local court in Una,following an application by the ED,had directed the police to hand over this amount to the ED. Following this,the police have now moved a higher court,pleading that they should be allowed to retain this cash as it was their case property.

This money (Rs 1 crore) was videotaped and presented before the trial court. It was deposited into the treasury with the concurrence of the court. It will go to its rightful owner either the Karmapa or the state government once the case is decided, said Director General of Police D S Manhas.

As for the foreign currencies,a source said,Since the ED is investigating the case under the FEMA,it will need to get possession of the unaccounted currencies recovered from the monastery. The polices case essentially related to cheating,fraud and forgery,although they have also added provisions of the FCRA to it. But the ED probe hinges primarily on the foreign currencies and that is why it will need to get their possession.