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ED attaches Rs 89 lakh worth of properties of Yadav Singh

The attached assets include a residential and a commercial properties, an agricultural land and bank balances, the agency said in a statement. The ED issued an order under the Prevention of Money Laundering Act (PMLA) to attach the assets. 

By: PTI | New Delhi | Published: July 5, 2019 10:13:17 pm
Bank Fraud: ED attaches assets worth over Rs 9,000 crore in Sterling Biotech PMLA case Both the ED and the CBI have filed separate charge sheets against Singh and others linked to him.

The Enforcement Directorate (ED) Friday said it has attached assets worth Rs 89 lakh of Yadav Singh, a former chief engineer with Noida Authority, in connection with a money laundering case.

The attached assets include a residential and a commercial properties, an agricultural land and bank balances, the agency said in a statement.

The ED issued an order under the Prevention of Money Laundering Act (PMLA) to attach the assets.

Singh was booked by the agency based on a CBI FIR that charged him with holding disproportionate assets and corruption while serving as the chief engineer with the New Okhla Industrial Development Authority (NOIDA).

Investigation found, the ED alleged, that funds related to income from illegal earning/unexplained sources were routed to the trust under control of Yadav Singh in guise of corpus donations.

“The same funds were routed to the bank accounts of his family members in guise of sale proceeds of properties which was further used for purchasing commercial and residential properties at Delhi and Noida and in maintaining bank balances,” it said.

The central agency has earlier attached assets of Singh, his family and trusts controlled by them worth Rs 20.5 crore.

Both the ED and the CBI have filed separate charge sheets against Singh and others linked to him.

The CBI charge sheet had stated that Singh accumulated disproportionate assets to the tune of Rs 23.15 crore, about 512 per cent to his known sources of income, during a test period between April, 2004 to August 4, 2015, the ED said.

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