A recent investigative report has raised scrutiny over business entities set up immediately following the retirement of former Directorate General of GST Intelligence officer Ravinder Singh Sangwan, highlighting extensive commercial transactions with firms linked to the Kamla Pasand Group as well as substantial real estate acquisitions by his family. Sangwan retired from the DGGI on April 30, 2022. Within 18 days of his exit from public service, three limited liability partnerships associated with him were incorporated. According to documents cited in the findings, Indus FMCG Goods LLP was established on May 6, 2022, followed by Indus Prompt Legals LLP on May 19, 2022, and Ramo Homes LLP on May 23, 2022.
Large-Scale Commercial Dealings and Margin Questions
Between the financial years 2022-23 and 2025-26, Indus FMCG Goods LLP recorded transactions totaling Rs 278.29 crore in operations connected with the Kamla Pasand Group. Annual figures detailed in the findings reflect Rs 45.66 crore in 2022-23, Rs 83.20 crore in 2023-24, Rs 75.66 crore in 2024-25, and Rs 73.78 crore in 2025-26. The entity reportedly purchased brand-licensing services from Kamla Kant & Company LLP for Rs 251.79 crore and provided those services to nine entities tied to the Kamla Pasand Group. The difference between the two transaction tiers stood at Rs 26.50 crore, representing a margin of around 9.52 percent. The investigation questioned whether this margin reflected standard commercial practice or operated as an arranged fee, noting that any determination would depend on official scrutiny by competent authorities. Additionally, Indus Prompt Legals LLP generated Rs 22.30 crore in professional fees from eight corporate entities during the same period, bringing the combined turnover of both partnerships to Rs 313.94 crore.
Scrutiny Over Family Real Estate Holdings and Service Conduct Rules
The report also outlined real estate assets owned by four members of the Sangwan family, who acquired 17 properties valued at Rs 50.87 crore across Delhi, Haryana, Gujarat, and Maharashtra between 2019 and 2026. Assets valued at Rs 5.25 crore were bought during Sangwan’s tenure at the DGGI, while properties worth Rs 45.62 crore were purchased in the four years following his retirement. Against these purchases, the family reported a declared income of Rs 37.60 crore, comprising Rs 8.22 crore in taxable earnings and Rs 29.38 crore listed as exempt profit share from partnerships. The report pointed to holdings worth Rs 21.61 crore held by his son, Shantnu Singh, whose taxable income in 2020-21 was recorded at around Rs 4,000. It further alleged non-compliance with Rule 18(1)(ii) of the Central Civil Services Conduct Rules, 1964, claiming mandatory disclosures were not made for properties bought during Sangwan’s government service.
Corporate Tenancies and Unregistered Wealth Advisory Ventures
Further questions were raised over a South Delhi property owned by Sangwan and his wife, which was leased to Indus Prompt Legals LLP for Rs 6 lakh per month under a January 14, 2025 deed. Sangwan signed the lease both as co-landlord and as the authorized representative of the partnership, which paid the couple Rs 91.20 lakh in rent across 2024-25 and 2025-26. Inquiries were also directed at related corporate entities, including HM Buildtech, Institute of Economic & Market Research, and Aeterna Wealth, an entity formed on December 18, 2024. Filings for Aeterna Wealth showed no records of registrations required by market, insurance, or banking regulators for wealth management operations. Inquiries sent to Sangwan, his family, Mohit Chhabra, and the involved companies yielded no response prior to publication.
Follow for daily updates on cybercrime, corporate fraud, DFIR, hacking, investigations, and digital forensics
