Babu Yadav Singh on blackmoney SIT radar

SIT Chairman Justice (retd) M B Shah and Vice-Chairman Justice (retd) Arijit Pasayat held a meeting and reviewed the case with CBDT officials led by Chairperson Anita Kapur and I-T officers from the investigations directorate in Lucknow who had carried out extensive raids last month on Singh’s premises and a number of companies with which his wife is believed to be associated with. After the meeting, the SIT asked the Director General (I-T investigations) Lucknow to share information of this case with the Enforcement Directorate so that Yadav could also be investigated under the criminal provisions of the Prevention of Money Laundering Act (PMLA).

The SIT, according to sources, has taken this case of alleged tax evasion seriously and it suspects generation of a huge amount of illegal funds here, in which the I-T department has already seized huge cash and is scrutinising voluminous documents of real estate projects being executed by Yadav in the national Capital region. According to a statement by the Finance Ministry, the SIT after the meeting, also asked Kapur to personally monitor the probe in the case.