Former Fortis Healthcare promoter Malvinder Singh has moved the Delhi High Court seeking quashing of an FIR against him that alleged misappropriation of Religare Finvest Ltd (RFL) funds, causing Rs 2,397 crore in losses.
He had approached the high court Thursday, hours before his arrest.
Justice Brijesh Sethi heard substantial arguments on Friday on behalf of Singh, Economic Offences Wing (EOW) of Delhi Police and RFL, and will continue to hear it post lunch.
EOW and RFL questioned maintainability of the petition, while Singh urged the court to issue notice in the matter and also stay the proceedings initiated by the police.
Singh, in his plea, has contended that only the SFIO, which comes under Ministry of Corporate Affairs, could have investigated the allegations of fraud and cheating against him.
He has also argued that the Serious Fraud Investigation Office (SFIO) was already investigating the matter on a complaint by Religare Enterprises Ltd (REL) and therefore, EOW "could not have jumped the gun".
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