Noida Engineer’s Dirty Money Empire Falls – Mail Today – 29-Nov-2014

December 3, 2014 - Uncategorized

Engineer Yadav Singh’s corruption has been so massive that Income Tax officials are yet to drill out the full detail of his ill-gotten wealth even after twenty raids.

The Income Tax department on Friday raided his residence at Noida’s Sector 51 and found cash worth Rs 10 crore and diamond and gold jewellery of around 2 kg.

Singh, meanwhile, was shunted out of the post of Chief Project Engineer and will no longer be looking after the three authorities of Noida, Greater Noida and Yamuna Expressway. A red-faced Uttar Pradesh government has shifted him to Noida’s CEO office till investigations against him are completed.

On Thursday, the department had found unaccounted assets at the residence and offices of Singh and also unearthed 40 fake companies running under his wife Kusumlata’s name. Sources in the department say Singh’s scam runs over Rs 900 crore.

A team of around 100 officials conducted search operations at 20 buildings located in Noida, Ghaziabad and Delhi. The drive will continue for a few more days.

“We have found evidence to prove that Singh has unaccounted assets. We have seized laptops and documents. We will reveal all details in a day or two,” said Krishna Saini, Director (Investigation), Income Tax department, Uttar Pradesh.

The team also sealed 13 lockers on Friday that belonged to Singh and his associates. It also found that two firms—Mamta and Meenu creations—were involved in managing Singh’s unaccounted-for money.

Web of deceit

The probe team has discovered that Meenu Creation Private Ltd and McConn Infra Private Limited were involved not only in exporting garments but also in buying land at throwaway prices and selling them at prevailing market rates. Singh allegedly misused his power in these transactions.

Vehicles at the residence of Noida Authority's engineer-in-chief Yadav Singh, whose wife, Kusumlata is director of Meenu Creations, a designer clothes manufacturer

Vehicles at the residence of Noida Authority’s engineer-in-chief Yadav Singh, whose wife, Kusumlata is director of Meenu Creations, a designer clothes manufacturer

Sources said Singh was being interrogated by an I-T team in Delhi. They have detained Anil Peshawari, his business partner, to interrogate him.

“We have found Singh has invested in 35 fake Kolkata-based companies. We are yet to substantiate how he has invested the money. Singh used to get 5% as commission on every contract that he awarded to a contractor,” said another official.

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