ED raids 10 locations linked to extortionist Inderjit Singh Yadav in Delhi, Haryana

Gurugram, Dec 29 (PT) The ED has conducted search operations at ten locations in Delhi, Gurugram and Rohtak in connection with a money laundering case against Inderjit Singh Yadav, his accomplices, Apollo Green Energy Ltd, and other associated entities, an official said on Monday.

According to an official statement released by the Gurugram Zonal Office of the Enforcement Directorate (ED), a money laundering probe has been initiated against Inderjit Singh Yadav over alleged extortion, coercive loan settlement of private financiers, armed intimidation and earning commission from such illegal activities.

The ED initiated an investigation on the basis of more than 15 FIRs and chargesheets filed by Haryana and Uttar Pradesh police under various sections of Arms Act, Bharatiya Nyaya Sanhita, and the Indian Penal Code against Inderjit Singh Yadav and his associates.

In the said FIRs, it has been alleged that Inderjeet Singh Yadav, owner and key controller of M/s 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 financiers, fraud, cheating, illegal land grabbing, and violent offences.

Yadav is wanted in various cases lodged by Haryana Police and is currently absconding and said to be operating from the UAE, the statement said.

A senior ED officer said the central agency probe into the cases revealed that certain corporate houses like Apollo Green Energy Ltd and others allegedly borrow huge sums of money in cash from Dighal and Jhajjar-based private financiers and issue post-dated cheques as security.

Investigation also revealed that 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.

These settlements were allegedly executed through threats, intimidation and use of armed associates of local gangs with the involvement of organised crime syndicates operating from abroad. Through these illegal settlements, he has allegedly earned several crores as commissions from these corporates.

"The income so generated by Inderjit Singh Yadav from these fraudulent ways running into crores were allegedly used for acquisition of immovable properties, luxury cars and maintaining luxurious life while declaring minimum income tax returns.

The search and seizure operation resulted in seizure of five luxury cars, bank lockers, cash amounting to Rs 17 lakhs, various incriminating documents, digital devices and digital data related to Inderjit Singh and his accomplices," the official said.

The search also uncovered that a website portal was developed and operated by Yadav for loan settlement between corporate houses and private financiers, he added.

Further, during the search operation, it is revealed that various movable and immovable assets were acquired in the name of Inderjit Singh Yadav and has family members from the proceeds of crime, the statement said. PTI COR ARB ARB