A Delhi court Tuesday granted bail to former Trinamool Congress (TMC) Parliamentarian KD Singh who was arrested by the Enforcement Directorate (ED) in a money laundering case.
Special Judge Geetanjali Goel directed Mr Singh to furnish a bail bond of Rs 5 lakh, with two sureties of the like amount.
KD Singh was arrested in January under sections of the Prevention of Money Laundering Act (PMLA).
He 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 Mr Singh and those linked to him in September, 2019 in connection with two PMLA cases.
KD 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 KD Singh.
It has been alleged that the Ponzi case in which Mr Singh’s firm is being probed is pegged around Rs 1,900 crore.