Punjab & Haryana High Court Grants Bail To AAP MLA Jaswant Singh In Money Laundering Case

The Punjab & Haryana High Court on Monday granted bail to  Aam Admi Party (AAP) MLA Jaswant Singh in money laundering case. Singh is an MLA from Punjab's Amargarh constituency and was arrested by ED in November, 2023.

Justice Mahabir Singh Sindhu granted bail to Singh. However a detailed order is awaited.

Jaswant Singh was booked under PMLA for allegedly being a director and guarantor of a company M/s TCL, which had obtained loan and credit facilities of over Rs.46 crores.

The amount is alleged to have been diverted to other companies, contrary to the terms and conditions of extending the credit facilities. A sum of Rs.3.12 crores is also stated to have been diverted into the personal account of the AAP leader.

The account of M/s TCL was declared as fraud on 09.02.2018 on the basis of forensic audit report, and the matter was reported to RBI. The petitioner had been issued summons to join investigation on several occasions but he did not appear before the investigating agency. Singh was arrested by ED in November, 2023.

In May, the High Court had dismissed Singh's plea challenging his arrest by ED in the case.

 The bench had observed that "the written grounds of arrest were served to him as is borne out by his signatures appended thereupon and available on the record. We are therefore satisfied that there is substantive compliance of Section 19(1) of the PMLA."

Title: Jaswant Singh v. ED

Citation: 2024 LiveLaw (PH) 323