The Delhi High Court on Friday granted bail to Kewal Krishan Kumar, chairman and managing director (CMD) of Delhi-based Shakti Bhog Foods Limited (SBFL), in a money laundering case linked to an alleged multi-crore bank loan fraud. .Justice Jasmeet Singh pronounced the order today. .“I have held that the applicant is not sick but he is entitled to bail,” Justice Singh said while pronouncing the judgment..Kumar was arrested in July 2021 by the Enforcement Directorate (ED). The ED initiated money laundering investigation on the basis of FIR registered by Central Bureau of Investigation (CBI) against Kumar and unknown others, for criminal conspiracy, cheating and criminal misconduct. The allegations against Kumar include diversion of funds from loan accounts by round tripping of funds through related entities and siphoning off funds by way of suspicious sale/purchase from various entities.According to the investigation agencies, the SBFL scam amounts to over ₹3,000 crores. It is alleged that SBFL borrowed, layered and siphoned off the loan funds using the platform of about 24 known group companies and several shell entities.