New Delhi: The Enforcement Directorate (ED) on Friday arrested Sanjay Singal, former chairman and managing director (CMD) of Bhushan Power and Steel Limited (BPSL), in connection with its probe in a multi-crore money laundering case linked to an alleged bank loan fraud.

According to the ED, Singal was arrested under the Prevention of Money Laundering Act (PMLA), after he was questioned in connection with the case.

Singhal arrested as he was not cooperating in the probe and will be produced before a court to seek further custody, an ED official said.

The probe agency recently attached assets of BPSL worth ₹4,025 crore in this case.

The ED had attached immovable properties — land, building, plant and machinery — of the firm located in Odisha under the provision of the money laundering act.

The ED's case of money laundering was filed after studying the FIR registered by the Central Bureau of investigation (CBI) against the company, Singhal and others on charges of corruption.

BPSL had used “various modus operandi to siphon funds obtained as loans from various banks," the probe agency said in a statement.

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