Who is Inderjit Singh Yadav? UAE-based man's luxury cars, cash, assets seized by ED in money laundering case

In a massive search operation conducted by the Enforcement Directorate on December 26-27 across 10 locations in Delhi, Gurugram and Rohtak, the probe agency seized cash worth ₹17 lakh, five luxury cars, bank lockers, incriminating documents, digital devices among other things, said officials.

The massive raids across state borders were conducted in connection with a money laundering case against a man named Inderjit Singh Yadav and his associates.

Inderjit Singh Yadav is the man in the centre of a money laundering case involving not just him but also his accomplices, a firm named Apollo Green Energy Ltd, and other associated entities, reported news agency PTI citing officials on Monday.

According to a statement by the Gurugram Zonal Office of the Enforcement Directorate (ED), Yadav is currently on the run and is said to be operating from the United Arab Emirates.

He is facing a money laundering probe over several allegations including alleged extortion, coercive loan settlement of private financiers, armed intimidation, and earning commission through these activities, said the statement, according to the PTI report.

The probe was initiated on the basis of over 15 FIRs and chargesheets filed against Yadav and his associates. These FIRs and chargesheets were filed across Uttar Pradesh and Haryana under several sections of the Arms Act, Bharatiya Nyaya Sanhita, and the Indian Penal Code.

The FIRs allege that Yadav is a known strongman and has been involved in criminal activities including murder extortion, coercive settlements of loans given by private financiers, fraud, cheating, illegal land grabbing, and violent offences, the report said. It added that Yadav is the owner and key controller of a firm called M/s Gem Records Entertainment Pvt Ltd (operating as 'Gems Tunes').

According to a senior ED official, some corporate houses such as Apollo Green Energy Ltd and others allegedly borrow huge amounts of money, that too in cash, from private financiers in Haryana's Dighal and Jhajjar, and as security, they issue post-dated cheques, revealed initial probe into the cases.

Amid this operation, Yadav’s role was that of a strongman and enforcer who facilitated these settlements through coercive means. The settlements of these private high-value loans were running into hundreds of crores, according to the probe, the PTI report said.

Yadav had allegedly earned crores of rupees by executing these settlements through various illegal means such as threats, intimidation, and even use of armed associates of local gangs. Even organised crime syndicates operating from foreign land were also involved in these operations and settlements.

"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,” PTI quoted the senior ED official as saying.

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

The search operation also revealed that Yadav operated a website portal for such loan settlements, the official said.

According to the ED’s statement, the raids revealed that several assets, both movable and immovable, were acquired in Yadav and his family’s name from the proceeds of crime.