New Delhi, March 17 : The Delhi High Court on Friday granted bail to Kewal Krishan Kumar, Chairman & Managing Director (CMD) of the Delhi-based Shakti Bhog Foods Limited, in a money laundering case linked to an alleged Rs 3,200 crore bank loan fraud. A single-judge bench of Justice Jasmeet Singh while granting him relief in the case said: "I have held applicant is not sick but he is entitled to bail." The Directorate of Enforcement (ED) had arrested Kumar on July 4, 2021. The central agency's money laundering probe stems from a First Information Report registered by the Central Bureau of Investigation against various others including Kumar for being allegedly involved in criminal conspiracy, cheating and criminal misconduct. Kumar's arrest was in continuation of search carried out at nine premises located in Delhi and Haryana during which various incriminating documents and digital evidence were recovered, according to a press release issued by the ED. It was alleged that Kumar with others was involved in diversion of funds from loan accounts by "round tripping of funds" through related entities and siphoning of funds was carried out by way of suspicious sale or purchase from various entities. According to ED's allegations, M/s Shakti Bhog Snacks Ltd., in association with Kumar, Raman Bhuraria (Chartered Account) and Devki Nandan Garg (both were already granted bail) were involved in paper sale or purchase transactions and dis not conduct any actual business transactions resulting in false inflation of the financials. On February 8, the High Court granted bail to Chartered Accountant Bhuraria on a personal bond of Rs 50,000 and one surety of the like amount subject to certain conditions like not leaving the country and joining the investigation. Justice Singh had observed that a prima facie case for his release was made out. He had said that continuing pre-trial incarceration will amount to a deprivation of personal liberty as well as a travesty of justice. The ED had opposed his bail plea stating that the accused was the kingpin in the case. /IANS