KD Singh was arrested in January beneath sections of the Cash Laundering Act. (File)
New Delhi: The CBI has registered an FIR towards former Trinamool Congress Rajya Sabha member KD Singh for allegedly dishonest 291 Kanpur-based traders on the pretext of offering them residential properties by his corporations Alchemist Infra Realty Restricted and Alchemist Township Restricted, officers mentioned.
The company took over a 2019 FIR registered by the Uttar Pradesh Police within the case. It was despatched to the Central Bureau of Investigation (CBI) and re-registered as per procedures, they mentioned.
The case was registered on a grievance from Kanpur resident Pawan Mishra.
Mr Mishra had alleged that the businesses had collected cash in 2009 by a ponzi scheme for offering residential properties in Ferozepur in Punjab, and in case of default, it was advised that cash will likely be returned at 18 per cent each year charge of curiosity.
He had additionally alleged that the businesses had collected Rs 25,000 crore from 15 lakh traders throughout India, based on the FIR.
KD Singh was granted bail within the alleged cash laundering case by which the Enforcement Directorate (ED) had arrested him in January, they mentioned.
His arrest by the ED came about on January 13, simply over a month earlier than meeting elections had been to be introduced in West Bengal, the officers mentioned.
The CBI has alleged that 291 traders in Kanpur got false promise of residential properties like plots, villas and residences by Singh’s two corporations. These guarantees have remained unfulfilled even after 10 years, they mentioned.
The traders neither obtained the properties nor refunds of their investments, it alleged.
Mr Mishra’s grievance which is now a part of the FIR alleged that cash was not returned even after directives from the SEBI.
