The ED had, on November 22, arrested Singal under the Prevention of Money Laundering (PMLA) Act and produced him before a court on Saturday, which sent him to ED custody.
The economic watchdog has alleged that Bhushan was not cooperating with the agency during questioning and that he was evasive and gave misleading replies to their questions.
The ED had recently attached assets worth Rs 4,025 crore of Bhushan Power and Steel Ltd (BPSL). "BPSL had used various modus operandi to siphon funds obtained as loans from various banks/financial institutions," the ED had said in an official statement.