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ED attaches Rs 127.3 cr shares linked to Alchemist group in PMLA case

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New Delhi, Oct 31: The Enforcement Directorate (ED) has provisionally attached shares worth Rs 127.3 crore linked to two hospitals – Alchemist Hospital and Ojas Hospital in Panchkula – as part of an ongoing money laundering probe involving the Alchemist Group, the agency said on Friday.

The properties are beneficially owned by businessman Karan Deep Singh. The order was issued by the ED’s Delhi Zonal Office under the Prevention of Money Laundering Act (PMLA), 2002, on October 30, 2025.

The action is connected to a probe into alleged large-scale financial fraud and misappropriation of public funds by the group’s promoters and associated companies.

The ED initiated its investigation based on an FIR registered by Kolkata Police, which was later taken up by the Central Bureau of Investigation (CBI), ACB Lucknow, under Sections 120-B and 420 of the IPC against Alchemist Township Pvt. Ltd., Alchemist Infra Realty Pvt. Ltd., their directors, and former Rajya Sabha MP and group chairman Kanwar Deep Singh.

“The case pertains to a large-scale criminal conspiracy to defraud investors by illegally raising funds through fraudulent Collective Investment Schemes (CIS), offering unusually high returns, and/ or making false promises of allotting plots, flats, and villas,” ED said in its press note.

The agency claims that Alchemist Holdings Ltd. and Alchemist Township India Ltd. raised approximately Rs 1,848 crore through these schemes, siphoning the money for unauthorised use.

“ED investigation revealed that the misappropriated funds were systematically layered through complex financial transactions involving group entities of the Alchemist Group, with the intent to conceal the illicit origin of the funds,” the agency said.

“These tainted proceeds were ultimately used for the acquisition of shares and the subsequent construction of Alchemist Hospital and Ojas Hospital. The transactions were deliberately structured to project these assets as legitimate, thereby disguising the Proceeds of Crime (POC),” it further added.

According to the ED, the shares of Alchemist Hospital and Ojas Hospital are held to the extent of 40.93 per cent and 37.23 per cent, respectively, by M/s Placid Estate Pvt. Ltd., a company beneficially owned by Kanwar Deep Singh.

“The assets of Alchemist Hospital and Ojas Hospital as held by M/s. Placid Estate Pvt. Ltd, valued at Rs 127.3 crore, has been attached in the current provisional attachment order,” it said.

In addition, the ED noted that it had previously arrested Kanwar Deep Singh on January 12, 2021.

A prosecution complaint was filed on March 2, 2021, followed by two supplementary complaints in July 2024 and September 2025. So far, assets worth Rs 365.42 crore have been attached in the case through earlier orders, including shares held by Sorus Agritech Pvt. Ltd. in the same hospitals.

Further investigation is underway.

Crime

Deported narco-trafficking kingpin Navpreet Singh sent to 10-day police custody

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New Delhi, Oct 3: A Delhi court on Saturday remanded alleged international narcotics trafficking accused Navpreet Singh to 10 days of police custody after he was deported from Turkey and brought back to India in connection with a major drug trafficking case.

Singh was produced before the Rouse Avenue Court in New Delhi following his deportation from Turkey, where he was allegedly living under the identity of Navab Virk.

Seeking his custodial remand, the police said that his questioning was required as part of the ongoing investigation into the alleged international narcotics trafficking network and to ascertain the role of other accused and the wider network.

However, the defence opposed the police remand plea, saying that there was no need for further custodial interrogation.

Advocate Asgar Khan, appearing for Singh, told the court that the police had already recorded his statement while he was in custody and that further investigation could proceed on the basis of the statement.

“We presented our arguments against the police remand before the court, but the court granted it,” Khan told media.

Navpreet Singh has been accused by investigating agencies of being linked to an international drug trafficking network allegedly operating between Afghanistan, India and Turkey.

According to the investigation, Singh was allegedly operating as a key handler of the network from Turkey and was accused of facilitating the trafficking of heroin and methamphetamine from Afghanistan to India.

His name had also surfaced in connection with a major narcotics case that came to light in Delhi in 2021, in which investigators recorded the recovery of around 355.5 kg of heroin from the accused persons.

Investigating agencies have claimed that Singh used the identity “Navab Virk” and obtained Turkish citizenship under the assumed identity while continuing to operate the alleged narcotics network.

Union Home Minister Amit Shah on Saturday described Singh’s deportation from Turkey as a “historic milestone” for the Narendra Modi-led Union government.

In a post on social media platform X, Home Minister Shah said that Singh had obtained Turkish citizenship under the alleged fake identity of Navab Virk and continued to smuggle heroin and methamphetamine to India from Afghanistan.

“Our agencies tracked him down, ripping apart veil after veil to unmask his true identity, and secured his deportation. Today he has been brought back to India and put behind bars in connection with cases involving drug trafficking and other crimes he is accused of. Congratulations to all the agencies for this success,” the Union Minister added.

Union Minister Shah also said that the Central government was committed to destroying every narco-cartel before December 2029.

The Ministry of Home Affairs said Singh’s deportation was part of the Centre’s efforts to bring back fugitives involved in serious criminal cases.

The development comes months after suspected drug trafficker Mohammad Salim Dola was brought back to India from Turkey.

Earlier, fugitive Prabhdeep Singh was also brought back from Azerbaijan in connection with a major narcotics case involving the recovery of a large quantity of heroin.

The investigation against Navpreet Singh and other accused is underway.

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Crime

CBI books Mumbai firm, officials in Rs 93.44 crore loan fraud case

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Mumbai, Oct 3: The Central Bureau of Investigation (CBI) conducted searches at multiple premises in Mumbai and registered a Rs 93.44 crore bank fraud case against officials of Hanjer Biotech Energies on the complaint of Punjab National Bank, an official said on Saturday.

The CBI conducted searches on Friday at multiple premises linked to the directors of Hanjer Biotech Energies in Mumbai, the CBI said in a statement.

The CBI registered the instant case on September 30, 2026, on the complaint of Punjab National Bank, SAM Branch, Mumbai, against Hanjer Biotech Energies, its directors and guarantors, unknown public servants and unknown private persons.

The accused were booked for offences of criminal conspiracy for cheating and offences under the Prevention of Corruption Act, resulting in alleged wrongful loss of approximately Rs 93.44 Crore to the bank.

It was alleged that the accused entered into a criminal conspiracy, obtained term loan of Rs 135 crore on the invoices of its related party and diverted/siphoned off the funds for other purposes for which it was not sanctioned, causing loss to the bank, the CBI said.

During the searches on Friday, incriminating bank documents and property documents relevant to the investigation were recovered and seized.

Investigation is continuing to ascertain the full extent of the conspiracy, identify the role of all involved persons, including public servants and private individuals, and trace the end-use of the loan funds, the CBI said.

In a separate case on Friday, the CBI arrested an Executive Engineer of the Central Public Works Department (CPWD), Mumbai, his relative and three officials of a Mumbai-based real estate group, in a Rs 50 lakh bribery case related to the issuance of a No-Objection Certificate (NOC) for a land parcel.

Vikrant Verma, Executive Engineer, CPWD Mumbai; Saurav Gupta, Verma’s relative based in Pune; and Arvind Semwal, Vice President, Baya Company, were among those named in the FIR by the Central Bureau of Investigation (CBI) on Thursday, an official said.

The arrested accused were produced before the Special CBI Judge in Mumbai on Friday, the official said in a statement.

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Crime

Haji Salim’s drug network runs out of routes as India tightens coastal surveillance

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New Delhi, Oct 3: The Rs 3,000-crore drug bust off the Lakshadweep Islands early this week has dealt a major blow to the Haji Salim network, but the bigger challenge for the alleged Inter Services Intelligence-backed syndicate is the shrinking availability of viable maritime routes into India.

Intensified coastal surveillance and heightened security have made traditional landing points increasingly difficult to use, forcing the network to shift routes, take greater risks, and search for new entry points for moving large consignments of narcotics.

Five Pakistani nationals operating the vessel were arrested, and 400 kg of methamphetamine and 126 kg of high-grade drugs worth over Rs 3,000 crore were seized during the operation by the Indian Coast Guard (ICG) and Gujarat Anti-Terrorism Squad.

An official said that the investigations show that the consignment was intended to land in Tamil Nadu, following which it was to be smuggled into international markets.

“Haji Salim, a Dawood Ibrahim aide, is in charge of narcotic smuggling into the southern states. From there it is taken to Sri Lanka and to countries such as Thailand,” the official said.

For the Haji Salim, the seizure of such a massive consignment is no doubt a setback, but the bigger worry for the syndicate is that it is running out of routes.

“Earlier, Gujarat was the most preferred route for the Haji Salim network. However, in recent times there have been multiple busts on this route, and the network has incurred massive losses following heightened security,” the official said.

The surveillance has increased manifold along the Gujarat route, and smuggling has become extremely difficult for the gang. This has forced the Haji Salim network to send the consignment of drugs using alternate routes.

Since the network shifted south, the Iranian dhow that was carrying the consignment had to be tracked and intercepted 160 nautical miles northwest of Lakshadweep.

Another official said the Haji Salim network now faces a fresh challenge as the new route has also come under the radar of coastal agencies.

“The network may have spent months planning the alternate route to bypass Gujarat. However, following the latest joint operation by the Indian Coast Guard (ICG) and Gujarat ATS, the Salim gang is likely to start looking for another route,” the official said.

The officials say that very soon, the ISI-backed Salim syndicate will run out of routes.

Earlier, the most preferred route prior to Gujarat was Vizhinjam near Thiruvananthapuram in Kerala. However, there were multiple successive actions carried out by the agencies, which led to several consignments being busted.

“Currently the surveillance at this seaport is at an all-time high and smuggling narcotics is next to impossible here,” the official said.

An Intelligence Bureau official said that Haji Salim managed to find new landing points at Kasargod and Malappuram, in north Kerala

“These locations have relatively low levels of coastal surveillance, making them ideal landing points for the network. However, it is only a matter of time before surveillance is stepped up in these areas,” the official said.

The officials say that although the Indian agencies have shut down several routes and conducted successive operations, they cannot become complacent. There is a lot at stake here, and both the ISI and the Haji Salim network are in need of funds. With so many of their contingents being busted in recent times, the losses that they have incurred is huge.

Further, Haji Salim is also under immense pressure from his international buyers to deliver narcotics in huge quantities.

If busts such as these continue to take place, then the international buyers would start looking for other avenues and this would cause a major dent for the Haji Salim network, officials say.

For the ISI too, such busts represent a major setback.

Officials said that under arrangements allegedly struck by the ISI with narcotics operators such as Dawood Ibrahim and Haji Salim, the drug cartels are required to hand over 40 percent of their proceeds from the narcotics trade. In return, the ISI is alleged to provide protection to the networks.

Officials said the money is largely used to finance terror activities in India.

The fact is that the Haji Salim network is running out of routes in India to move its consignments. While Salim plans newer routes, he also has to deal with the pressure from international buyers who are likely to pursue other avenues if this network does not get its act together, another official said.

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