Delhi court grants bail to former TMC MP K D Singh in money laundering case

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A Delhi court Tuesday granted bail to former TMC MP K D Singh who was arrested by the Enforcement Directorate in a money laundering case.

Special Judge Geetanjali Goel directed him to furnish a bail bond of Rs 5 lakh, with two sureties of like amount.

Singh was arrested in January under sections of the Prevention of Money Laundering Act (PMLA).

Singh was a Rajya Sabha member of the Trinamool Congress, but has not been involved in the party affairs for quite some time.

The ED had carried out searches at the premises of Singh and those linked to him in September, 2019 in connection with two PMLA cases.

Singh has been the chairman of the Alchemist group and while he resigned from the post in 2012, he is stated to be the Chairman Emeritus and founder of the business group.

In June 2019, the ED had attached assets worth over Rs 239 crore belonging to a firm allegedly linked to Singh.

It has been alleged that the Ponzi case in which Singh's firm is being probed is pegged around Rs 1,900 crore.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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