Former WAPCOS CMD, family booked by CBI for possessing disproportionate assets, Rs. 20 crore cash recovered

New Delhi (India), May 3, 2023: The Central Bureau of Investigation (CBI) has uncovered a staggering amount of Rs. 20 crore in cash during a series of raids on Tuesday, targeting former Chairman and Managing Director of WAPCOS Ltd, Rajinder Kumar Gupta, and his family members.

The CBI’s search, which spanned 19 locations across Delhi, Gurugram, Chandigarh, Sonipat, and Ghaziabad, unearthed the cash as well as jewelry, other valuable items, and incriminating documents.

The agency has booked Gupta, his wife Reema Singal, son Gaurav, and daughter-in-law Komal for possessing disproportionate assets. The CBI’s spokesperson confirmed that the accused had possessed assets way beyond their known sources of income.

Gupta served as CMD of the Water and Power Consultancy Services (India) Limited (WAPCOS), a central public sector enterprise under the Jal Shakti ministry, from April 1, 2011, to March 31, 2019. After his retirement, he allegedly started a consultancy business under a private company based in Delhi, which has now come under the CBI’s scanner.

The alleged immovable properties of the accused, which include flats, commercial properties, and farmhouses, are spread across Delhi, Gurugram, Panchkula, Sonipat, and Chandigarh. The CBI’s action is a significant step in the government’s efforts to curb corruption and bring transparency to public sector enterprises.

The scale of the cash seizure, coupled with the recovery of valuable items and incriminating documents, is likely to make this a high-profile case. The investigation is ongoing, and further details are awaited.