Ex-Noida Authority Chairman Yadav Singh on blackmoney SIT radar

The SIT has taken this case of alleged tax evasion seriously and it suspects generation of a huge amount of illegal funds in New Delhi.

By: Press Trust of India | New Delhi | Published: December 6, 2014 10:26 pm

Controversial Noida Authority official Yadav Singh, accused of amassing illegal wealth, has come under the scanner of the Special Investigation Team (SIT) on blackmoney as it on Saturday asked the CBDT to share information with ED so that money laundering charges could be pressed against him and his associates.

SIT Chairman Justice (retd) M B Shah and Vice-Chairman Justice (retd) Arijit Pasayat held a meeting and reviewed the case with CBDT officials led by Chairperson Anita Kapur and I-T officers from the investigations directorate in Lucknow who had carried out extensive raids last month on Singh’s premises and a number of companies with which his wife is believed to be associated with.

After the meeting, the SIT asked the Director General (I-T investigations) Lucknow to share information of this case with the Enforcement Directorate so that Yadav could also be investigated under the criminal provisions of the Prevention of Money Laundering Act (PMLA).

The SIT, according to sources, has taken this case of alleged tax evasion seriously and it suspects generation of a huge amount of illegal funds in the capital, in which the I-T department has already seized huge cash and is scrutinising voluminous documents of real estate projects being executed by Yadav in the national capital region.

According to an official statement issued by the Finance Ministry, the SIT after the meeting, also asked Kapur to personally monitor the probe in the case.

I-T searches on the premises of Yadav and his wife last month had led to the recovery of huge cash, two kg gold and diamond jewellery even as the department has brought under its scanner over a dozen bank accounts of the duo and private firms operated by them.

“As the search (on Singh) is being conducted by Director General Lucknow, it was directed that Chairperson CBDT would monitor the search, seizure and further appropriate proceedings against Yadav Singh and other connected persons.

“DG and search officer (of the case) shall convey the information to the Director of the Enforcement Directorate to take appropriate action and to investigate the matter further from the angle of money laundering. Thereafter, SIT would further monitor the investigations,” the statement said.

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  1. V
    vaders
    Dec 7, 2014 at 12:06 am
    I think a gene has mutated in India which is causing all this corruption. Its probably a double recessive gene that is inherited leading to congenital corruption for which there is no cure. The corruption gene has strengthened over time by natural selection. Its now endemic. The gene has been on by environmental factors
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    1. A
      avi
      Dec 6, 2014 at 9:02 pm
      We have such cases regularly in India, do we impart justice ? Do we ever recover ill gotten wealth from them ? Do we even make them serve or complete a jail sentence? The answer for these is NO !!! That is why professional crooks get bolder day by day. G-2 scam,Coal scam,Commonwealth Games scam,Mayawati,Laloo Yadav, Mulayam Singh, Badals, Sheila Dixit, DMK,Vadra.........the list is endless with no hope or accountability ???
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      1. N
        noidaman
        Dec 7, 2014 at 1:37 pm
        He was a chief engineer not chairman -your headline itself is incorrect!
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        1. S
          skgoel
          Dec 11, 2014 at 1:46 pm
          You are right. nothing happens to such people in our country. No govt. takes action. Just imagine why laloo was given bail. why vadra case is not taken up till date.
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