The Enforcement Directorate on Wednesday arrested former Trinamool Congress Rajya Sabha MP KD Singh in connection with a money laundering case, PTI reported. Delhi’s Rouse Avenue Court sent him to the agency’s custody till January 16, according to ANI.
The former parliamentarian’s arrest came after he could not explain certain transactions pertaining to the case. In September 2019, the investigation agency had carried out searches at Singh’s premises in Delhi and Chandigarh, in relation to 14 companies of the Alchemist Group, that were controlled by him, according to India Today. The Enforcement Directorate had reportedly seized a number of documents and digital evidence and recovered Rs 32 lakh in cash, with foreign exchange worth $10,000 (Rs 7.32 lakh).
Singh was earlier the chairman of Alchemist group. While he resigned from the post in 2012, he continued to be the chairman emeritus and founder of the business group, according to PTI.
Inquiry under the Prevention of Money Laundering Act was initiated by the ED in 2018 on basis of First Information Reports registered by the Kolkata Police against Singh under sections of cheating and criminal conspiracy, India Today reported. Singh allegedly raised money from customers in the form of investments for his companies, including Alchemist Township India Limited and Alchemist Holdings Limited, and then siphoned off the funds to other group companies, ED told India Today.
Meanwhile, the Trinamool Congress has denied to have links with Singh any longer. “It is true that KD Singh ran a chit find for Alchemist,” party leader Sougata Roy told NDTV. “It is true that at point he was a member of the Rajya Sabha from the Trinamool. But the party has had no connection with KD Singh for the last two years.”
Singh was elected to the Rajya Sabha on a Trinamool Congress ticket in April 2014 and his tenure got over last year.
Roy, however, said that the central agencies should work according to the law, adding a word of caution of them being misused by the Bharatiya Janata Party. “I am not apprehensive but I know the BJP is not above using the CBI and the ED for political purposes,” he said.