Leh, Sep 25 (NationPress) Recent revelations have emerged regarding significant violations of the Foreign Contribution (Regulation) Act (FCRA) tied to Ladakhi climate activist Sonam Wangchuk, as reported by reliable sources.

These sources indicate that Wangchuk has been influential in rallying public sentiment, often leveraging activism to evoke emotional responses.

"Nevertheless, the severe financial discrepancies and infractions associated with him raise vital questions about his integrity and motives," they stated.

"Numerous troubling financial irregularities and dubious actions have been linked to Sonam Wangchuk."

"A significant concern is that his NGO—Himalayan Institute of Alternatives Ladakh (HIAL)—has improperly accepted local contributions into its FCRA account, violating Section 17 of the FCRA, 2010."

"Moreover, HIAL received foreign funds prior to obtaining FCRA registration, which is against Section 11 of the FCRA Act.

For the fiscal years 2020-21 and 2021-22, HIAL reported zero foreign revenue.

"However, it did receive foreign remittances during this timeframe, constituting violations of both the Companies Act and Section 467 of the Indian Penal Code.

"In 2023, a new account was established under a profitable company named Sheshyon Innovation Private Limited, with Sonam Wangchuk and Geetanjali JB as directors. This move seemed aimed at consolidating excess funds that had built up in HIAL's accounts, despite a lack of legitimate ground-level projects to warrant such accumulation.

"Additionally, foreign funds were deposited into Sonam Wangchuk's personal and joint accounts, a direct breach of the FCRA, 2010. Between 2021 and March 2024, Wangchuk transferred crores abroad, raising alarming concerns about potential money laundering, especially since these foreign remittances were made to unidentified entities, while he continued to receive foreign contributions in his personal accounts."

"While Sonam Wangchuk positions himself as a champion of the people's cause, his financial misconduct record presents a conflicting narrative. His actions jeopardize meaningful dialogue and convert genuine issues into instruments for personal and political advantage," the sources noted.

"HIAL's financials have surged from Rs 6 crore in the Assessment Year (AY) 2023-24 to over Rs 15 crore in AY 2024-25," the sources added.

"HIAL operates seven accounts, four of which remain undeclared," they revealed.

HIAL has received substantial foreign remittances exceeding Rs 1.5 crore without FCRA registration.

"A significant transfer of Rs 6.5 crore has occurred from HIAL to Sheshyon Innovations Private Limited."

"Wangchuk's Students Educational and Cultural Movement of Ladakh (SECMOL) maintains nine accounts, six of which are undeclared."

"His Sheshyon Innovations Private Limited reported a net profit of merely 1.14 percent on a turnover of Rs 9.85 crore in AY 2024-2025, indicating a substantial decline from the net profit of 6.13 percent in AY 2023-24. This company has three accounts, two of which are undeclared."

"A large transfer of funds from HIAL to his personal firm M/s Sheshyon Innovation Private Limited has been noted. Sonam Wangchuk possesses nine personal bank accounts, eight of which are not declared."

"Furthermore, certain undeclared bank accounts belonging to Wangchuk show significant foreign remittances."

"Sonam Wangchuk has sent Rs 2.3 crore abroad from 2021 to 2024 from his personal account."

"He has also received foreign funding totaling Rs 1.68 crore from 2018 to 2024 across various accounts."

"While he criticizes the corporate sector, he accepts substantial funds under CSR from numerous corporate entities, including Central government PSUs."

"Significant funds have been transferred from his NGO account to his personal company," top sources concluded.