Key Points
New Delhi [India], June 23 (ANI): The Delhi High Court on Friday issued notice to Enforcement Directorate (ED) on businessman Neeraj Singhals plea challenging his arrest and remand granted to the agency in a money laundering case.. He is in the custody of ED till Saturday...
Justice Tara Vitasta Ganju issued notice to the ED and sought a reply within two weeks..
He argued that once the custody of the accused is granted to the investigation agency, the arrest cant be challenged...
In the SFIO complaint, it was alleged that ex-promoters of M/S Bhushan Steel Limited namely Neeraj Singal and Brij Bhushan Singal had obtained huge loan from various banks and financial Institutions with outstanding liabilities of Rs 56,000 crores when the company went to insolvency and the IRP was appointed...
It is also alleged that the directors and the staff of the company M/S Bhushan Steel Limited had dishonestly and fraudulently by using false and fabricated documents diverted huge public funds to the tune of Rs 45,818 crores during the period 2013-2014 to 2016-2017 into its accounts, causing wrongful loss to the State Bank of India and Punjab National Bank..
