The Enforcement Directorate on Monday said it recently conducted search operations at 10 locations in Delhi, Gurugram, and Rohtak. The raids are part of an ongoing money laundering investigation targeting Inderjit Singh Yadav, his accomplices, Apollo Green Energy Ltd, and other associated entities.
The searches revealed that a website/portal was developed and operated by Yadav to facilitate loan settlements between corporate houses and private financiers. Furthermore, the operation uncovered that various movable and immovable assets were acquired in the names of Yadav and his family members using the proceeds of crime.
The money laundering investigation stems from allegations of illegal extortion, coercive loan settlements for private financiers, armed intimidation, and commission earned from such activities by Inderjit Singh Yadav.
The ED initiated its Prevention of Money Laundering Act (PMLA) investigation based on more than 15 FIRs and charge sheets filed by Haryana and Uttar Pradesh Police. These cases, registered under various sections of the Arms Act, BNS, and IPC, allege that Yadav, the owner and key controller of Gem Records Entertainment Pvt. Ltd. (operating as ‘Gems Tunes’), is a known strongman involved in criminal activities including murder, extortion, coercive loan settlements, fraud, cheating, illegal land grabbing, and violent offences.
Inderjit Singh Yadav, wanted in various cases by Haryana Police, is currently absconding and believed to be operating from the UAE.
The ED investigation revealed that certain corporate houses, including Apollo Green Energy Ltd, allegedly borrowed large sums in cash from private financiers based in Dighal, Jhajjar, and issued post-dated cheques as security.
The probe further indicated that Inderjit Singh Yadav acted as a strongman and enforcer, facilitating coercive settlements of these high-value private loan transactions and financial disputes involving hundreds of crores of rupees.
These settlements were allegedly executed through threats, intimidation, and the use of armed associates or local gangs, with the involvement of organised crime syndicates operating from abroad. In this process, he allegedly earned commissions amounting to hundreds of crores from these corporates.
The income generated through these fraudulent means was reportedly used to acquire immovable properties and luxury cars and fund a lavish lifestyle, while only minimal income was declared in tax returns.
The search and seizure operation resulted in the seizure of five luxury cars, bank lockers, cash amounting to Rs 17 lakh, various incriminating documents, digital devices, and data related to Inderjit Singh Yadav and his accomplices.
Further investigation is ongoing.
