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

Former TMC MP K D Singh was arrested in January under sections of the Prevention of Money Laundering Act (PMLA).

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 former TMC MP K D Singh to furnish a bail bond of ₹5 lakh, with two sureties of like amount.

Special Judge Geetanjali Goel directed him to furnish a bail bond of ₹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 ₹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 ₹1,900 crore.