The Central Bureau of Investigation (CBI) has arrested former Water and Power Consultancy Services (India) Limited chairman-cum-managing director (CMD) Rajinder Kumar Gupta and his son for allegedly amassing wealth disproportionate to known sources of income.
The agency has so far seized about ₹38.38 crore in cash, fixed-deposit receipts, keys of bank lockers and details of accounts in various banks.
On May 2, the agency initiated the searches at multiple locations in Delhi, Gurugram, Chandigarh, Sonipat and Ghaziabad, after registering the case against Mr. Gupta, his wife Reema Singal, son Gaurav Singal, and daughter-in-law Komal Singal.
The CBI alleged that Mr. Gupta, during the tenure from April 1, 2011, to March 31, 2019, possessed disproportionate assets way beyond his known sources of income.
Mr. Gupta had joined the public sector unit in 1989 and became its CMD on April 27, 2010, for a period of five years. Subsequently, his tenure was extended up to the date of his superannuation on September 30, 2018. Thereafter, he was given a further extension of two years up to September 30, 2020. At the beginning of the check period, he and his family members possessed assets worth ₹95.02 lakh as on April 1, 2011, and held properties worth over ₹13.74 crore as on March 31, 2019. As alleged in the First Information Report, the disproportionate assets was to the extent of about ₹7.91 crore.
After retiring from the service, the main accused had started a consultancy business in the name of a private company based in Delhi. “The alleged immovable properties belonging to the accused include flats, commercial properties and a farmhouse spread across Delhi, Gurugram, Panchkula, Sonipat and Chandigarh,” said the CBI in a statement.
During the searches, apart from the cash, the agency has seized jewellery in huge quantities and other valuable items.
The Water and Power Consultancy Services (India) Limited, which functions under the Jal Shakti Ministry, provides consultancy services in the areas of water resources, power and infrastructure development, states its website.
It has secured business in countries such as Angola, Afghanistan, Bangladesh, Benin, Bhutan, Burkina Faso, Burundi, Cambodia, Central African Republic, Chad, Congo, Ethiopia, Fiji, Ghana, Guinea Conakry, Kenya, Lao PDR, Lesotho, Liberia, Malawi, Maldives, Mali, Mongolia, Mozambique, Myanmar, Nepal, Niger, Nigeria, Philippines, Rwanda, Senegal, Sierra Leone, South Sudan, Sri Lanka, Swaziland, Tanzania, Trinidad & Tabago, Togo, Uganda, Yemen and Zimbabwe.
