The Central Bureau of Investigation (CBI) on Wednesday arrested Rajinder Kumar Gupta, former chairman and managing director of WAPCOS Limited, and his son Gaurav Singal in a disproportionate assets (DA) case.
The agency has recovered cash worth ₹38.38 crore during searches on Gupta and his family members.
WAPCOS, previously known as Water and Power Consultancy Services (India) Limited, is a central public sector enterprise wholly owned by the government and is under the administrative control of the ministry of Jal Shakti.
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CBI launched searches on Gupta and his family members on Tuesday.
It has registered a DA case against Gupta, his wife Reema Singal, son Gaurav and daughter Komal.
“A reliable source information has been received to the effect that Gupta, while posted as CMD, WAPCOS, during April 2011 and March 2019, in the capacity of a public servant committed criminal misconduct and enriched himself illicitly in active connivance with his family members, which are disproportionate to all his legal known sources of income,” CBI first information report (FIR), filed on April 30, states.
CBI says Gupta had DA worth ₹7.91 crore, which is 131% more than his known sources of income.
Gupta, the FIR says, joined WAPCOS in 1989 and became CMD in April 2010 for a period of five years.
Subsequently, his tenure was extended till his retirement in September 2018. Thereafter, he was given a further extension of two years till September 2020.
“The source information disclosed a steady accumulation of assets by Rajinder Kumar Gupta in the name of self and his family members,” CBI said.
A CBI official said the immovable properties of the accused consist of flats, commercial properties, and a farmhouse spread across Delhi, Gurugram, Panchkula, Sonipat, and Chandigarh.