RFL money laundering case: Court sends Shivinder Singh to 14 days judicial custody

A Delhi court on Thursday sent former Fortis Healthcare promoter Shivinder Singh to judicial custody till January 8 in connection with the RFL money laundering case.

The court had on December 19 extended the Enforcement Directorate custody of Singh till December 26 in a money laundering case related to alleged misappropriation of funds at Religare Finvest Ltd.

Additional Sessions Judge Sandeep Yadav of Saket Court on Thursday has sent Singh to the remand of Enforcement Directorate after the law enforcement agency sought his 14 days custodial interrogation.

The court had earlier on December 19 rejected the bail plea of the erstwhile promoter of Religare Enterprises Limited Shivinder Singh.

The court which rejected his bail plea observed, "Considering the seriousness and gravity of the offences, there being every likelihood of applicant Shivinder Mohan Singh fleeing from justice or hampering the trial, I find it expedient in the interest of justice, not to enlarge him on bail".

The court observed that in the present case, a huge amount of Rs 2400 crore was disbursed in the form of loan to the entities having no financial standings. The court also said that investigation in the case is in a crucial stage and there is a possibility of the applicant to influence the witnesses or tamper with evidence.

Shivinder Singh, along with brother Malvinder and former CMD of Religare Enterprises Sunil Godhwani was arrested in October by Economic Offence Wing over charges of siphoning of funds.

As per the prosecution, Manpreet Singh Suri of Religare Finvest has lodged a complaint against Shivinder and others accusing them of putting Religare Finvest in poor condition by way of disbursing loans to those who did not have any financial standings.