In yet another case, assets worth over Rs 204 crore, including houses in Delhi and London, of former Bhushan Power and Steel Ltd (BPSL) CMD Sanjay Singal have been attached by the Enforcement Directorate (ED) under the anti-money laundering law. Over Rs 4,229 crore worth of attachment has been done by the ED in this case so far.
"The attached assets consist of movable and immovable properties in Delhi and London," the ED said in a statement. "An amount of Rs 204.31 crore was diverted out of bank loan funds of BPSL, which was utilised for acquisition of assets in India and abroad by Sanjay Singal," it said. The ED had on Friday filed a charge sheet against Singal and others before a special Prevention of Money Laundering Act (PMLA) court.
The charge sheet or the prosecution complaint named 24 people and the company as accused, and the court had issued production warrant against Singal for January 21. Singal is at present in judicial custody after the ED arrested him in November last year.
The agency alleged that the accused had "diverted huge amount of funds" out of loans taken by BPSL from 33 banks and financial institutions during 2007-2014, which were used for creation of assets.