New Delhi, July 24 -- The Enforcement Directorate (ED) has attached shares worth Rs.127.33 crore in two immovable properties - Alchemist Hospital and Ojas Hospital - located in Panchkula and "beneficially owned" by businessman Karan Deep Singh, as part of its probe against the Alchemist Group and its promoters into alleged large-scale fraud and misappropriation of public funds. Karan Deep Singh is the son of former Rajya Sabha MP and Alchemist Group founder Kanwar Deep Singh. Kanwar Deep represented the Trinamool Congress in the Upper House from 2010 to 2014, but is no longer associated with the party. "Investigation has 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. These tainted proceeds were ultimately used for the acquisition of shares and 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," the ED said in a statement on Wednesday. It added that shares of Alchemist Hospital and Ojas Hospital were held to the extent of 40.94% and 37.24%, respectively, by Sorus Agritech Pvt Ltd, a company beneficially owned by Karan Deep Singh. When contacted for comment, Karan Deep Singh said he had "no information" about the ED action. The ED probe against former MP Kanwar Deep Singh and a firm linked to him, Alchemist Infra Realty Ltd, began in September 2016, when the agency filed a case under the Prevention of Money Laundering Act (PMLA) after taking cognisance of a chargesheet against the company, its directors and others by market regulator Securities and Exchange Board of India (SEBI). In January 2021, ED had arrested Kanwar Deep Singh for allegedly running an illegal collective investment scheme, also known as a ponzi or chit fund scheme, and mobilising funds from the public in the years preceding 2015. The CBI is also investigating him in the same case....