January 16, 2017 9:31:06 pm
The Enforcement Directorate (ED) on Monday attached assets worth around Rs 20 crore in connection with its probe into money laundering charges against former Noida chief engineer Yadav Singh. The agency said it has issued orders for freezing of assets under the provisions of the Prevention of Money Laundering Act (PMLA), and properties of three construction companies and a firm allegedly owned by Singh’s wife have been attached.
“The total value of seized assets is around Rs 19.42 crore,” it said.
The ED had slapped money laundering charges in two separate cases against Singh in 2015, based on an FIR by the CBI. The CBI has also filed a charge sheet in this case.
After an Allahabad High Court order, the CBI had registered two cases against Singh and his family members for alleged corruption and amassing assets disproportionate to known sources of income.
Singh’s case came to the fore after the Income Tax department first carried out searches against him and others on tax evasion charges.
A scrutiny of ITRs and other connecting records have reportedly revealed that during the period 2009-2014, the total likely savings of the family of the then Chief Engineer was approximately Rs 1.70 crore, whereas they were in possession of immovable property worth around Rs 3.60 crore, CBI had said.
“Besides, approximately Rs 10 crore was allegedly recovered from one of his associates which reportedly belonged to the then Chief Engineer,” the CBI had said.
An attachment of assets order under PMLA is aimed to deprive the accused from taking benefits from their ill-gotten wealth and it can be challenged before the Adjudicating Authority of the said Act within 180 days by the aggrieved party.
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