Explanation:

- Option 1: Syed Ahmad of Rae Bareli

- An Indian Islamic reformer.

- Not associated with the Pagal Panthis.

- Option 2: Haji Shariatullah

- Founder of the Faraizi Movement.

- Focused on religious reforms in Bengal.

- Option 3: Karam Shah

- Correct answer.

- Founded the Pagal Panthis sect.

- Pagal Panthis was a religious sect focused on equality and social justice in Bengal.

- Option 4: Shah Waliullah

- A major Islamic scholar in India.

- Known for trying to reform Sunni Islam in the Indian subcontinent.

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