`32 lakh & $10K seized from MP KD Singh’s Delhi house, says ED

NEW DELHI: The ED on Friday said it has seized cash amounts of Rs 32 lakh and USD 10,000 after it raided the "official residence" of Rajya Sabha MP K D Singh in Delhi and few other locations as part of a money-laundering probe against him and others.

The central agency said searches were launched on Thursday at seven locations in Delhi and Chandigarh including at registered offices of 14 group companies of the Alchemist Group that is "related to and controlled" by Singh.

"During searches, a number of documents reflecting the circular nature of transactions, digital evidence and property documents were seized at the official residence of Kanwar Deep Singh in Delhi and cash of Rs 32 lakh along with foreign exchange worth USD 10,000 was found and seized," the Enforcement Directorate said in a statement.

While Singh had resigned from the post of chairman of the Alchemist group in 2012, he is stated to be the Chairman, Emeritus and founder of the business group. The agency said it also searched Singh's house in Chandigarh and homes of two directors linked to his companies.

The ED is probing Singh, his linked firms and associates as part of two money laundering cases, it said.

The first is based on an FIR filed by the Kolkata Police while the other is on the basis of a charge sheet filed by market regulator SEBI.

In the first criminal case initiated last year, the ED said, the Kolkata Police had booked Singh, his son Karandeep Singh, Alchemist Township India Limited, Alchemist Holdings Limited and various other group companies and directors for cheating thousands of customers.

"Singh through companies raised huge amounts of money from thousands of customers in the garb of investments by

luring them with high returns and also against sale and booking of plots and flats."

Money so collected from the innocent public, it said, has been transferred in a circular manner in order to conceal and

layer in a "fraudulent" manner. The second PMLA case against the MP and a firm

linked to him- Alchemist Infra Realty Limited- is based on a SEBI charge sheet filed against the company and its directors.

The scam is stated to be about Rs 1,900 crore and the agency had attached assets worth Rs 239 crore of Alchemist Infra Realty Ltd early this year. Singh has not had any involvement or any contact with members of the TMC or the party itself in the last two years.