Gurugram: ED arrests company’s top official in case linked to UAE-based fugitive
New Delhi, July 7 (IANS) The Enforcement Directorate (ED) on Tuesday arrested a top official of a company in case of money laundering linked to the UAE-based fugitive Inderjeet Singh wanted by Haryana Police in cases of fraud, cheating, illegal land grabbing and violent offences, an official said.
The ED’s Gurugram Zonal Office, arrested Rakesh Gupta, former Chief Financial Officer/President- Strategic Initiatives of Apollo Green Energy (earlier Apollo International) and a key managerial person of Apollo Group under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
They were arrested in connection with an ongoing investigation in connection with the case involving Inderjeet Singh and others, the ED said.
The arrest was made after non-compliance to four summons and issuance of non-bailable warrant (NBW) against Inderjeet Singh by the Special PMLA Court in Gurugram. He was produced before the Special PMLA Court in Gurugram, which sent him to ED custody for five days.
“The ED initiated investigation on the basis of more than 15 FIRs registered and charge sheets filed by the Haryana Police and Uttar Pradesh Police against Inderjeet Singh and his associates under various provisions of the Arms Act, 1959, Bharatiya Nyaya Sanhita, 2023, and the Indian Penal Code, 1860,” the central probe agency said.
In these FIRs, it has been alleged that Inderjeet Singh, owner and key controller of Gem Records Entertainment (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.
Inderjeet Singh is wanted in various cases of Haryana Police and is currently absconding and operating from the UAE, the ED added.
The ED investigation revealed that certain corporate houses like Apollo Green Energy and others allegedly availed huge private loans from private financers based in Dighal, Jhajjar, and issued post-dated cheques as security.
“The investigation further established that Inderjeet Singh acted as a strongman and enforcer, who facilitated coercive settlements of these high-value private loan disputes running into hundreds of crores of rupees, through threats, intimidation and the use of armed associates/local armed gangs with the involvement of organised crime syndicates operating from abroad,” the ED said.
Inderjeet Singh has also been named to be involved in the murder of a Dighal-based financier and is reportedly absconding in that case, the ED added.
The federal probe agency’s investigation revealed that Apollo Green Energy had borrowed more than Rs 200 crore from private financiers and subsequently defaulted in repayment of both principal amount and interest rate amount.
Rakesh Gupta was instrumental in introducing Inderjeet Singh to Apollo Group and taking his service which led to coercive settlements of loans and alleged murder of one financier, it said.
“Earlier in this case, the ED had conducted search operations at various premises resulting in seizure of cash amounting to Rs 6.41 crore, jewellery valued at Rs 17.4 crore and five luxury vehicles,” the central probe agency said.
Moreover, the ED has attached assets amounting to Rs 90.04 crore and had filed a charge sheet before the Special PMLA Court in Gurugram, it added.
–IANS
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