Delhi Court Sends Previous TMC MP KD Singh to ED Custody Till January16
Former TMC MP KD Singh, who was arrested by the Enforcement Directorate (ED) in connection with a cash laundering case, has actually been sent out to judicial custody till January 16 by Delhi’s Rouse Avenue Court. Singh was apprehended on Wednesday under sections of the Avoidance of Money Laundering Act (PMLA), reported PTI.
Responding to the arrest, TMC MP Saugata Roy told Hindustan Times, “I don’t desire to comment. Neither is KD Singh with the TMC anymore nor he is a MP now.”
The case goes back to 2016 where Singh and a firm linked to him (Ms Alchemist Infra Real Estate Limited) when the ED filed a criminal case under the PMLA taking cognisance of a charge sheet filed against the company, its directors and others by SEBI.
Previously in September 2019, ED had actually stated that it has taken cash amounts of Rs 32 lakh and USD 10,000 after it raided the “main house” of the TMC MP in Delhi and few other locations as part of a money-laundering probe against him and others.
” During searches, a variety of files reflecting the circular nature of transactions, digital proofs and property files were seized at the main house of Kanwar Deep Singh in Delhi and money of Rs 32 lakh in addition to foreign exchange worth USD 10,000 was discovered and seized,” the Enforcement Directorate had said in a statement in 2019.
The scam is stated to be about Rs 1,900 crore and the firm had connected assets worth Rs 239 crore of Alchemist Infra Real estate Ltd early this year. It has actually been declared by investigators that the business released an unlawful collective financial investment scheme, also called a ponzi or chit fund plan, and mobilised funds of about Rs 1,916 crore from the general public in the years preceding 2015.
( the heading, this story has actually not been published by Important India News staff and is released from a syndicated feed.).