The Enforcement Directorate has secured seven-day custody of Krishanu Sharda in a money laundering investigation linked to Punjab DIG Harcharan Singh Bhullar. The agency had sought 14 days, citing the need to examine alleged cash transactions, financial records and digital evidence. ED officials told the court that searches and forensic analysis had uncovered cash, financial assets and WhatsApp communications relevant to the probe. Sharda’s defence opposed extended custody, disputing the agency’s claims and arguing that the identified assets cannot automatically be treated as proceeds of crime.
ED Gets Seven-Day Custody of Krishanu Sharda in Punjab DIG Harcharan Singh Bhullar Money Laundering Probe
The Enforcement Directorate has said that the allegations and findings are part of an ongoing investigation. No court has yet made a final determination on the claims.
The investigation continues, and authorities are expected to review more evidence, financial transactions, property records, and witness statements to determine the full extent of the case.
Real estate and legal circles are closely watching developments, and Sprouts News understands that further findings will likely affect the next stage of enforcement proceedings.
Officials told the court Krishanu Sharda was arrested around 11 am on Friday. The Enforcement Directorate had sought a 14-day remand, arguing that a longer custodial period was needed for further investigation.
The agency said investigators had to ascertain the source and nature of unexplained cash and deposits allegedly found in the possession and bank accounts of Krishanu Sharda. It also sought to identify other persons or entities allegedly involved in transactions under investigation.
ED Cites Cash Recoveries, Financial Records and Digital Evidence
In the court proceedings, the Enforcement Directorate alleged that Krishanu Sharda knowingly accepted ₹5 lakh as illegal gratification on behalf of Harcharan Singh Bhullar. The agency said the amount was proceeds of crime from the scheduled offence being probed by the Central Bureau of Investigation.
The ED said that forensic examination of the mobile phones of Krishanu Sharda and Harcharan Singh Bhullar revealed that they had exchanged messages repeatedly on WhatsApp during the period relevant to the investigation.
Searches at Krishanu Sharda’s premises led to the recovery of ₹8 lakh in cash, the submissions before the court said. Investigators have also found an aggregate balance of around ₹1 crore across different assets.
The agency told the court that the amount included bank accounts and funds and investments held in bank and post office accounts, to the tune of nearly ₹9 lakh. These results are part of the continuing financial probe.
Earlier, the Enforcement Directorate also referred to a search operation conducted by the Central Bureau of Investigation at the residence of Krishanu Sharda. As per records cited before the court, officials are said to have recovered cash worth around ₹21 lakh during the search.
The agency said custodial interrogation was necessary to confront the accused with financial records, digital material and statements that have already been collected during the investigation process, according to Sprouts News.
Also Read: ED Arrests Kolkata Real Estate Director Amit Ganguly in PMLA Case
Defence Challenges Remand Request Before Special Court
Krishanu Sharda’s lawyer opposed the Enforcement Directorate’s application for 14 days' custody and questioned the agency’s claims and need for long interrogation.
The defence said Krishanu Sharda was a national-level hockey player since the age of 16. The lawyer said his grandfather had represented India in international hockey.
The defence said the assets to the tune of ₹1 crore plus identified by the investigating agencies cannot be assumed to have been accumulated through unlawful means. The lawyer said the matter will be clarified through the statements before the ED.
The defence further argued that the custodial period of 14 days was unreasonable and excessive in the circumstances. It asked the court to deny the agency’s request for extended detention.
Special Judge Bhawna Jain passed the order after hearing submissions from both sides. The court observed that custodial interrogation was needed at this stage of investigation and partly allowed the Enforcement Directorate’s application.
The court gave the 14 days of custody requested, but instead of 14 days, it gave 7 days. The probe is continuing, and the Enforcement Directorate has been asked to produce Krishanu Sharda before the court again on September 25.
The case is still being investigated, and authorities are expected to review financial records, communications, and evidence of assets to determine the extent of any wrongdoing and whether other people might be implicated.
