National Waqf Development Corporation Limited is an Indian government agency under Ministry of Minority Affairs .
It work in a joint venture with the States and UT's waqf boards and the Mutawallis.
In 2007 there were reports from Kerala indicating many irregularities in transferring of Waqf land or properties to private parties.
This resulted in a huge loss to the Indian exchequer amounting to 2 lakh crore rupees.
Some major points of the report:[2][3] Waqf means a permanent dedication of a person professing Islam of any movable or immovable property for any purpose recognized by Muslim law as - auspicious, religious or charitable.