The ED had initiated its probe into the affairs of the Alchemist Group in 2018 on the basis of FIRs registered by the Kolkata Police against Singh, his son Karandeep Singh, M/S Alchemist Township India Limited, M/S Alchemist Holdings Limited and various other group companies.
A day after the Enforcement Directorate (ED) carried out searches at the residence and offices of TMC MP K D Singh, the agency claimed to have recovered Rs 35 lakh and $10,000 in cash, property papers and documents pertaining to circuitous financial transactions from his official residence in Delhi.
The ED had carried out searches at seven locations in New Delhi and Chandigarh, “including registered offices of 14 group companies of Alchemist Group, related to and controlled by Trinamool Congress Rajya Sabha MP, Kanwar Deep Singh, the official residence of K D Singh at Tughlaq lane, New Delhi, residence of K D Singh at Chandigarh and residences of two directors in different companies, in connection with a probe into money laundering initiated on the basis of FIRs of Kolkata Police…”.
A statement by the agency said, “During searches, a number of documents reflecting the circular nature of transactions, digital evidences and property documents are seized. At the official residence of K D Singh in Delhi, cash of Rs 32 lakh along with Foreign Exchange worth $10,000 was found and seized.”
Singh is said to have been sidelined within the TMC. His residence and offices were searched on the same day that West Bengal Chief Minister and TMC supremo Mamata Banerjee met Union Home Minister Amit Shah.
The ED had initiated its probe into the affairs of the Alchemist Group in 2018 on the basis of FIRs registered by the Kolkata Police against Singh, his son Karandeep Singh, M/S Alchemist Township India Limited, M/S Alchemist Holdings Limited and various other group companies and their directors for allegedly cheating thousands of customers and investors.
“Kanwar Deep Singh, through companies namely, M/s Alchemist Township India Limited and M/s Alchemist Holdings Limited had raised a huge amount of money from thousands of customers in the garb of investments by luring them of high returns and also against sale/booking of plots and flats etc. So far investigation has revealed that these funds raised from public were not used for the intended purpose and were diverted/siphoned off to various group companies,” ED said.
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