Former Managing Director (MD) Small Scale Industries Development Corporation Limited (SICOP) Bhupinder Singh Dua was arrested by anti-corruption Bureau (ACB) in a disproportionate assets case.
In a statement, ACB said that the accused was arrested had amassed “massive wealth and raised assets” illegally in his own name as well as in the names of his family members and close relatives.
“Dua had acquired these assets with the ill-gotten money earned through corrupt practices during his stint in SICOP in various capacities,” the ACB statement said.
ACB said that during the searches conducted last year on October 14, 2019, valuable assets were recovered from his premises, including “golden ornaments weighing 1.834 kg, silver weighing 1.470 kg besides, cash amounting to Rs 957400 were recovered.”
“Dua has also acquired movable/immovable proprieties including 12 different factories under different names and styles established by him and his family members. Also large number of goods carrier/trucks have been purchased by him as well as his family members. Two houses, two plots, and four luxury vehicles are owned by him or his family,” ACB said.
According to ACB, in addition, Dua also raised a double storey palatial house at posh Nanak Nagar area in Jammu over land measuring two kanals.