The Enforcement Directorate (ED) on Monday carried out extensive search operations at ten locations across Delhi, Gurugram, and Rohtak. The raids are part of a major money laundering investigation targeting alleged strongman Inderjit Singh Yadav, his accomplices, Apollo Green Energy Ltd, and several other linked entities.
Probe Triggered by Multiple Police FIRs
According to an official statement from the ED's Gurugram Zonal Office, the money laundering probe was initiated based on more than 15 First Information Reports (FIRs) and chargesheets filed by police in Haryana and Uttar Pradesh. These cases involve serious charges under the Arms Act, the Bharatiya Nyaya Sanhita, and the Indian Penal Code.
The central agency alleges that Inderjit Singh Yadav, the owner and key controller of M/s Gem Records Entertainment Pvt Ltd (which operates as 'Gems Tunes'), is a known figure involved in a spectrum of criminal activities. The allegations include murder, extortion, coercive loan settlements for private financiers, fraud, cheating, and illegal land grabbing. Yadav is currently wanted in multiple cases by Haryana Police and is believed to be absconding, operating from the United Arab Emirates (UAE).
Modus Operandi: Strongman for Corporate Loan Settlements
ED's investigation has uncovered a sophisticated operation. It revealed that certain corporate entities, including Apollo Green Energy Ltd, allegedly borrowed large sums of cash from private financiers based in Dighal and Jhajjar. As security, they issued post-dated cheques.
Inderjit Singh Yadav allegedly positioned himself as an enforcer, facilitating coercive settlements for these high-value private loan transactions and financial disputes, which run into hundreds of crores of rupees. These settlements were reportedly executed through threats, armed intimidation, and the involvement of local gang associates linked to organized crime syndicates operating from abroad. For his role, Yadav allegedly earned commissions amounting to several crores from these corporates.
Seizures and Uncovered Assets
The search operations led to significant seizures. Officials confiscated five luxury cars, bank locker contents, cash amounting to Rs 17 lakh, various incriminating documents, and digital devices and data belonging to Yadav and his associates.
Further investigations during the raid revealed that Yadav had developed and operated a dedicated website portal to facilitate loan settlements between corporate houses and private financiers. The ED statement also noted that various movable and immovable assets were acquired in the names of Yadav and his family members using the proceeds of these alleged crimes. The income generated from these illegal activities, running into crores, was allegedly used to buy properties and luxury cars and fund a lavish lifestyle, while only minimum income was declared in tax returns.
The case highlights the ED's focus on cracking down on complex financial crimes involving intimidation, corporate borrowing, and the laundering of illicit funds through high-value assets.
