Ex-MD SICOP Held In Disproportionate Assets Case

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Jammu: The Anti-Corruption Bureau (ACB) on Wednesday detained former Managing Director (MD) of Small Scale Industries Development Corporation Limited (SICOP) in a disproportionate assets case.

In a handout issued to Kashmir Observer, an ACB spokesperson said that former MD SICOP Bhupinder Singh Dua was taken into custody for questioning regarding assets acquired by him. Dua, according to the spokesperson has amassed massive wealth and raised a number of assets in his own name as well as in the names of his family members and close relatives.

“He had acquired these assets with the ill-gotten money earned through corrupt practices during his stint in SICOP in various capacities,” the spokesperson said.

Divulging the details, the ACB spokesperson said that in a search conducted on October 14, last year, golden ornaments weighing 1.834 kg, silver weighing 1.470 kg and cash amounting Rs 9, 57,400 was recovered from his premises.

“During ongoing investigation, it was discovered that Dua has also acquired massive movable and immovable proprieties, including 12 different factories under different names and style established by him and his family members,” the ACB spokesperson said.

He said that Dua and his family had also acquired large number of goods carriers, trucks besides four luxury cars and two houses and two plots.

“In addition, the retiree public servant has also raised a double storey palatial house in Posh Nanak Nagar area over a piece of land measuring 2 kanals approximately which clearly indicates that the accused is having property disproportionate to his known sources which has been acquired by him through illegal and corrupt practices during his service career,” the Bureau spokesperson said.

He said that the accused was given ample time and opportunity to provide details of the assets and properties acquired by him.

“Further investigations are going on,” he added.

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