India's latest "Socialist" Billionair

[SanjeevaniButi]

Noida authority engineer Yadav Singh has Rs 10,000 crore assets, faces CBI probe - News18.com

The Noida Authority's engineer-in-chief may face a CBI probe after I-T department raid unearthed disproportionate assets worth Rs 10,000 crore from his residence.

Meanwhile, I-T department has refused to accept the Rs 50 crores Yadav offered to surrender.

But, Yadav continues to walk free as till now no case has been registered against him. He is likely to be suspended on Saturday.

According to ETV report, Singh, who owns land more than the Noida Development Authority, has 250 plots and is also involved in hawala

Now, as the ED and I-T department has decided to investigate his hawala dealings, Singh's proximity to Mayawati may create hurdles for the investigating agencies.

The investigations so far have revealed that Singh had spent Rs 8,000 crore during the Mayawati's term.

Also known as one of 'Behenji's navratnas', Singh's fortunes dwindled as Samajwadi Party came to power in 2012. He was suspended and an inquiry was ordered against him but he left India following which a red corner notice was issued against him.

But soon, the notice was withdrawn and the inquiry against him went slow. Even his suspension was revoked in November 2013. He was also given the charge of Noida, Greater Noida and Yamuna Expressway Authorities as engineer-in-chief .

Yadav now faces jail after Income Tax officials raided his residence and recovered diamonds worth Rs 100 crore, Rs 10 crore cash and an Audi ar worth Rs 90 lakh on Friday.

ETV report states that he earned Rs 3,000 crore through corrupt practices from Noida development projects. He earned Rs 7,000 crore through property and has been involved in money laundering.


India's latest Billionaire .......... a socialist YADAV

 

[SanjeevaniButi]

He is India's first official Billionaire Bureaucrat

 

[SanjeevaniButi]

Noida's Millionaire Bureaucrat has Diamonds Worth Rs 100 crore, 20 Properties

This is just ONE of his 20 devloped properties in Delhi

With diamonds worth Rs.100 crore, two kilos of gold, crores in cash and 20 properties to his name, Yadav Singh is one of the richest men in Uttar Pradesh. He is no businessman, just a government employee.

Mr Singh, who is a chief engineer with the Noida Authority, has become an embarrassment for the state government after raids over the weekend revealed his fabulous wealth - virtually impossible on a government salary.

Sources say he could be sitting on a scam worth over Rs.900 crore. All contracts that he oversaw have been cancelled.

He has been transferred to a lesser post pending investigation and will no longer be in charge of the Noida, Greater Noida and Yamuna Expressway authorities.

A team of 120 officers of the Income Tax department raided over 20 places allegedly owned by Mr Singh. Besides cash and jewellery, the team found documents of 40 fake companies in the official's wife's name. Perhaps their most important find is a diary with coded entries, believed to be a record of illegal dealings involving other bureaucrats.

The raids were conducted in connection with the alleged sale of plots in Noida through fake share-holdings.

"If any wrongdoing is found in any department, our government will take action," Chief Minister Akhilesh Yadav said on Sunday.

Mr Singh's career growth has been almost as remarkable as his mushrooming wealth.

He began in 1980 as junior engineer, and in two decades, had shot up to Chief Engineer. In 2011, he became engineer-in-chief with the Noida Authority. In 2012, the Samajwadi Party government suspended him for alleged corruption. A few months later, he was allegedly reinstated with even more powers.

 

[SanjeevaniButi]

Noida chief engineer Yadav Singh case is end of SP and BSP, say opposition parties : North, News - India Today

Opposition parties feel the Akhilesh Yadav-led SP government may meet its Waterloo in the next Assembly elections because of the rise of Yadav Singh under the patronage of those who matter in the politics and bureaucracy of Uttar Pradesh. The parties point out that former BSP minister Babu Singh Kushwaha's involvement in the Rs.5,400-crore NRHM scam was a major reason for the Mayawati government's humiliating defeat in 2012.

All guns blazing

"Mayawati had lost because of corruption. Now the same fate awaits the Akhilesh Yadav-led Samajwadi Party government in the state," Congress state spokesperson Dwijendra Tripathi said.

BJP MP Kirit Somaiya, meanwhile, claims Mayawati is equally responsible for the Noida chief engineer's rise in Uttar Pradesh. "Mayawati's brother Anand Kumar is a partner of Singh in his illegal business. I have submitted documents to the government to prove the charges," he added.

While the Opposition parties have been questioning his silence, Chief Minister Akhilesh Yadav avoids making any direct reference to Singh. "We always act against any shortcoming or wrong," he told reporters when they sought his comment on the Income Tax department raids at Singh's residence in Noida.

Meanwhile, a section of bureaucrats and politicians is said to have already started working on plans to ensure the I-T probe doesn't land up on the doors of their masters.

"Singh is in touch with higher ups in the state government and trying to convince them to set up a vigilance inquiry against him. He wants the government to order a vigilance probe before the Enforcement Directorate initiates an inquiry on the basis of the I-T Department's findings," a senior officer in the UP government said.

Singh, former engineer-in-chief of Noida, Greater Noida and Yamuna Expressway authorities with many additional charges, has assets disproportionate to his known sources of income. He is known for staying for months at a Kathmandu hotel which boasts of a casino. (This is the time when he escaped arrest when red corner notice was issued against him)

"Singh's political clout was so strong that his bosses couldn't dare to question his decisions. As a result, he kept allotting prime land to his cronies at throwaway prices. This also suggests that there were a series of beneficiaries including his departmental bosses and political masters," a police officer, who had probed the charges against Singh in 2012, said.

In 2012, Singh had faced a temporary setback after he was suspended for alleged irregularities in infrastructure projects worth over Rs.950 crore.

But Singh was back at the end of 2013 after the CB-CID gave him a clean chit. The officer claims that a hotel in Noida's Sector 37 was gifted to a politician who, in turn, had convinced the state government in 2013 to hand over the probe in the scam to the CB-CID with the sole purpose of botching it up.

CB-CID Additional Director General Jagmohan Yadav claims that the probe agency had found there was no substance to charges of irregularities against the engineer. "We had probed a case of irregularity against him and found his innocent. We are ready to probe the fresh case against him and assure that we will come out with truth, " he added.

I-T Director General (Investigation) Krishna Saini refuses to share the details of the probe. "We have seized documents that need to be studied well. We are also supposed to collect documents from the offices of the authorities. But divulging more would be unwise when the case is still under probe," Saini said.

Income Tax Department Director (investigation) Ashok Kumar Tripathi, however, is confident that his officers will come up with new findings in the ongoing raids to find the exact extent of Singh's empire.

"Singh and his shareholders have accepted that they possessed Rs.50 crore as black money. We will open his lockers next week and hope to recover more than assessed so far," Tripathi told newspersons.

 

[SanjeevaniButi]

Noida engineer Yadav Singh likely to fake divorce to get off hook : North, News - India Today

Reports coming in suggest that Uttar Pradesh government engineer Yadav Singh, now an accused in two high-profile corruption cases, is mulling desperate measures to come out unscathed from the vortex of allegations surrounding him.

So much so, sources say Singh is preparing to plead he and his wife, Kusumlata, are divorced because last week's income tax raids involve charges against two companies where she served as director.

"Most of his illegally earned assets were in the name of his wife till 2013. However, later on, these assets were shifted in the name of some shell companies. Singh is in touch with his chartered accountants, who have suggested that he prove to the authorities that he shares no relationship with Kusumlata," a source said.

"He may forge documents to prove that they terminated their marriage," the source added.

Interestingly, Singh's wife was with him when a team of income tax investigators conducted an incriminating raid at his house in Noida's Sector 51 last week that yielded crores in cash and other valuables.

The raid at the Singhs' posh bungalow was conducted in connection with charges of tax evasion by Meenu Creations and McConn Infra Private Limited, which are suspected to have purchased land at throw away prices from Noida Authority and sold it at market prices. Singh's involvement is yet to be proved.

"He knows how to protect himself and also his money. Although people are making a hue and cry over his illegal wealth, we know that it is not going to harm him in any way," a source said. "Very soon, the I-T department will finish its work and then a subsequent inquiry will be started to save him," the source added.

Noida Authority attempts damage control after corruption storm

Back in the thick of a storm that threatens to corrode its image, the Noida Authority is working overtime to dissociate itself from Yadav Singh's alleged dirty deeds.

The civic agency announced on Sunday that it has lowered the threshold for the conduct of e-tendering-the process of managing tenders electronically for greater transparency and efficiency- to limit the scope for deceitful transactions.

The agency currently opts for e-tendering for projects worth over Rs.2 crore. From now, though, any project worth overRs.50 lakh will be handed out via the electronic procedure.

"This has become a very important case. The I-T department has found many irregularities vis-a-vis his stint at the authority," a senior Noida Authority official said. "Going forward, we will float tenders for projects worth over Rs.50 lakh online to ensure we have each and every transaction on the record," he added.

Noida Authority engineer Yadav Singh has been accused of handing out contracts for projects worth over Rs 950 crore without issuing tenders.

In raids on his house and other property on Thursday and Friday, the Income Tax department found unaccounted for assets worth crores. Officials recovered Rs10 crore in cash and 2 kg of diamond and gold jewellery.

Singh was relieved from his charge as chief engineer on Saturday and attached to the personnel department pending completion of the probe.

 

[mujhaidind]

He is India's first official Billionaire Bureaucrat

If they are atleast hundreds of them if not thousands. I have heard many stories of some IAS officers having more than 1000 crores of propety.

 

[SanjeevaniButi]

If they are atleast hundreds of them if not thousands. I have heard many stories of some IAS officers having more than 1000 crores of propety.

Go back to school to understand the difference between 10,000 Crores and 1,000 crores.

Rs. 1,000 crores makes you a Millionaire.
Rs. 10,000 crores makes you a Billionaire.

 

[mujhaidind]

Go back to school to understand the difference between 10,000 Crores and 1,000 crores.

Rs. 1,000 crores makes you a Millionaire.
Rs. 10,000 crores makes you a Billionaire.

Forgot to add a zero. You think he is the only billionaire bureaucrat? There are many like him who are close to politicians.

 

[Juggernautjatt]

Wrong title of thread ,nowhere written in the news that he is member of any socialist or communist party.
He constructed his corrupt empire during both BSP & SP rule.