New Delhi, February 27 – The Enforcement Directorate (ED) has attached properties worth ₹90.04 crore in Gurugram linked to fugitive Inderjeet Singh Yadav, who is based in the UAE, and is allegedly involved in coercive settlements of loans given by private lenders, as well as other crimes, including murder and fraud involving over ₹110 crore, an official said on Friday.
The ED's Gurugram Zonal Office has attached various plots and residential and commercial properties owned by Yadav and his wife, Reena Kumari, the official said in a statement.
The ED had issued a provisional attachment order under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, on Thursday for attaching the immovable properties.
The ED initiated the investigation based on more than 15 FIRs registered and charge sheets filed by the Haryana Police and Uttar Pradesh Police against Yadav and his associates under various provisions of the Arms Act, 1959, the Bharatiya Nyaya Sanhita (BNS), 2023, and the Indian Penal Code, 1860.
"In the FIRs, it has been alleged that Yadav, the owner and key controller of Gem Records Entertainment Private Limited (operating as 'Gems Tunes'), is a known strongman involved in criminal activities such as murder, extortion, coercive settlements of loans given by private lenders, fraud, cheating, illegal land grabbing, and violent offences," the ED statement said.
Yadav is wanted by the Haryana Police in various cases, and is currently absconding and operating from the UAE, it added.
The ED investigation revealed that corporate houses such as Apollo Green Energy Limited and others allegedly availed large private loans from private lenders based in Dighal in Jhajjar, Haryana, and issued postdated cheques as security.
"The investigation established that Yadav 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, in collaboration with organised crime syndicates operating from abroad," the ED said.
Yadav has also been implicated in the murder of a Dighal-based financier, and is reportedly absconding in that case, the central probe agency added.
So far, the investigation has uncovered proceeds of crime amounting to more than ₹110 crore attributable to Yadav, which were subsequently used to acquire immovable properties, luxury vehicles, and maintain a lavish lifestyle, while declaring minimal income in his tax returns.
"Despite being given multiple opportunities, Yadav has not joined the investigation, allegedly by residing in the UAE and thereby evading due process of law," the ED said.
Earlier in this case, the ED had conducted search operations at various premises related to Yadav and other related persons/entities, resulting in the seizure of cash amounting to ₹6.41 crore, jewellery valued at ₹17.4 crore, five luxury vehicles, multiple cheque books, and documents related to immovable properties valued at ₹35 crore, as well as other incriminating documents and digital data.