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New Delhi: A special court on Friday extended the Enforcement Directorate (ED) custody of Sanjay Singal, former chairman and managing director (CMD) of Bhushan Power and Steel Limited (BPSL), by seven days in connection with its probe in a multi-crore money laundering case linked to an alleged bank loan fraud.

ED had moved an application for extension of police custody by seven days.

Special Public Prosecutor Nitesh Rana appearing for ED submitted that the accused needs to be confronted with further documents and to trace trail of money for probable diversion by unearthing routing of the proceeds of crime.

"Extension of period of police custody remand is necessary for purpose of proper investigation and unearthing the conspiracy in the present matter. Accordingly considering the gravity of offence as well as totality of the facts and circumstances, the prayer for extension of seven days police custody remand of accused Sanjay Singal is allowed," said the special court order.

The agency had arrested him on 22 November.

Singal was arrested under the Prevention of Money Laundering Act (PMLA), after he was questioned in connection with the case.

The probe agency recently attached assets of BPSL worth 4,025 crore in this case.

The ED's case of money laundering was filed after studying the FIR registered by the Central Bureau of investigation (CBI) against the company, Singhal and others on charges of corruption.

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