Panchkula Court Refuses Bail to AAP’s Singla in ₹155‑Crore Bank Fraud and Money‑Laundering Case

The Punjab and Haryana High Court sitting in Panchkula on Wednesday turned a cold shoulder to a bail plea filed by AAP leader Gurpreet Singh Singla. In a terse order, the bench said the evidence “clearly points” to his involvement in a sprawling ₹155‑crore bank fraud and a parallel money‑laundering conspiracy, and therefore kept him in custody.

To give a bit of context, the case began when two public sector banks – Punjab National Bank and Indian Overseas Bank – reported irregularities in loans allegedly sanctioned through forged documents. Investigators say the loans were siphoned off and later fed into a network of shell companies, creating a classic money‑laundering trail. The total amount under scrutiny is a whopping ₹155 crore, which is about $19 million, a figure that has set off alarms in the banking fraternity.

During the hearing, Singla’s counsel, Ankit Kumar, argued that his client was merely a political figure with no direct hand in the financial machinations. He pleaded for bail on the grounds of “personal liberty” and cited the lack of a concrete forensic link. The judges, however, were unconvinced. They pointed to forensic audit reports and statements from bank officials that, in their view, tied Singla to the fraudulent approvals. “The seriousness of the offence, the amount involved, and the risk of tampering with evidence justify the denial of bail,” the order read.

The AAP office, understandably annoyed, called the decision “premature” and vowed to appeal. A party spokesperson said Singla was being “politically victimised” and that the court’s verdict could fuel further speculation. Meanwhile, the opposition parties seized the moment to question the integrity of the ongoing investigation, hinting at a larger political undercurrent.

Legal experts say the case could become a litmus test for how high‑profile financial crimes are handled in India. If the prosecution can prove a direct link between Singla and the loan fraud, it could set a precedent for future prosecutions of politicians accused of economic offences. For now, Singla remains behind bars, awaiting the next round of hearings – a sobering reminder that money matters can quickly become political fireworks.