The Enforcement Directorate (ED) has seized five luxury cars, bank lockers, cash amounting to Rs 17 lakhs, various incriminating documents, digital devices and digital data related to now United Arab Emirates (UAE) based wanted criminal Inderjit Singh Yadav and his accomplices, the agency said on Monday.
The seizure followed a massive search operation conducted on December 26-27 at 10 locations in Delhi as well as Haryana's Gurugram and Rohtak related to an ongoing money laundering case against Inderjit, his accomplices, Apollo Green Energy Ltd and other associated entities and persons under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
ED said the searches also uncovered that a website was developed and operated by Inderjit for loan settlement between corporate houses and private financers.
Further, during the search operation, ED said, it was revealed that various movable and immovable assets were acquired in the name of Inderjit and his family members from the Proceeds of Crime.
As per the agency, ED initiated an investigation against Inderjit based on 15 FIRs registered and chargesheets filed by Haryana and Uttar Pradesh Police under various Sections of the Arms Act, 1959, Bharatiya Nyaya Sanhita (BNS), 2023 and the Indian Penal Code, 1860.
In the FIRs, it has been alleged that Inderjeet, owner and key controller of Gem Records Entertainment Pvt Ltd (operating as 'Gems Tunes'), is a known strongman involved in criminal activities like murder, extortion, coercive settlements of loans given by private financers, fraud, cheating, illegal land grabbing, and violent offences.
The agency said the money laundering investigation has been initiated in connection with Inderjit's illegal extortion, coercive loan settlement of Private Financers, arms intimidation and earning commission from such illegal activities.
"Inderjit Singh Yadav is wanted in various cases of the Haryana Police and is currently on the run and operating from the UAE," said the ED.
ED investigation revealed that "certain corporate houses allegedly borrowed huge sums of money in cash from Dighal, Jhajjar-based private financers and issued post-dated cheques as security. "
"Investigation also revealed that Inderjeet Singh Yadav acted as a strongman and enforcer, facilitating coercive settlement of these high-value private loan transactions and financial disputes running into hundreds of crores of rupees. These settlements were allegedly executed through threats, intimidation and the use of armed associates and local armed gangs with the involvement of organised crime syndicates operating from abroad."
In this process of settlement, the federal agency said, Inderjit allegedly "earned hundreds of crores as commissions from these corporates."
"The income so generated by Inderjit Singh Yadav from these fraudulent ways running into crores was allegedly used for acquisition of immovable properties, luxury cars and maintaining luxurious life while declaring minimum income tax returns," it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
