ED arrests former CFO of Apollo Green Energy Ltd
The Enforcement Directorate has arrested Rakesh Gupta, former Chief Financial Officer and president for strategic Initiatives at Apollo Green Energy Ltd. (earlier Apollo International Ltd.)
The Enforcement Directorate has arrested Rakesh Gupta, former Chief Financial Officer and president for strategic Initiatives at Apollo Green Energy Ltd. (earlier Apollo International Ltd.), the agency announced on Tuesday (July 7, 2026). The arrest was made in connection with an ongoing investigation into “strongman” Inderjeet Singh and others. It is alleged that Mr. Singh facilitated the coercive settlements of high-value private loan disputes running into hundreds of crores through threats, intimidation, and the use of armed associates or local armed gangs; investigators also allege the involvement of organised crime syndicates operating from abroad.
The agency said that Mr. Gupta was arrested after failing to comply with four summonses and despite the issuance of a non-bailable warrant by a Gurugram court. The ED has secured custody for five days. The ED probe is based on over 15 cases and charge sheets filed by the police in Haryana and Uttar Pradesh against Mr. Singh and his associates. “It has been alleged that Inderjeet Singh, owner of Gem Records Entertainment Pvt. Ltd. (operating as ‘Gems Tunes’), is a known strongman involved in criminal activities like murder, extortion, coercive settlements of loans given by private financiers, fraud, cheating, illegal land grabbing, and violent offences,” the agency said.
Operating from the UAE Wanted by the Haryana police in various cases, Mr. Singh is currently absconding and operating from the United Arab Emirates (UAE). According to the ED, certain corporate houses such as Apollo Green Energy Ltd. and others allegedly took huge loans from private financiers based in Dighal, Jhajjar (Haryana), and issued post-dated cheques as security. “Apollo Green Energy Ltd. borrowed more than ₹200 crore from private financiers and subsequently defaulted on repayment of both principal and interest. Rakesh Gupta was instrumental in introducing Inderjeet Singh to Apollo Group and using his services which led to coercive settlements of loans and the alleged murder of one financier,” the ED said.
The agency has so far attached assets amounting to about ₹90.04 crore and filed a prosecution complaint in the case.
The BriefWire