-
ALSO READ
Delhi HC grants bail to ex-Fortis promoter Shivinder Singh in fraud case
Delhi clashes: Tahir Hussain gets judicial custody in money laundering case
Global money laundering monitor says coronavirus fraud on the rise
Scared of online scams and money laundering? Learn how to deal with them
ED attaches assets worth Rs 1.84 crore in Kerala gold smuggling case
-
A Delhi court Thursday dismissed a bail application of former CEO of Religare Enterprises Limited (REL) Maninder Singh in a case related to alleged siphoning of Rs 2,397 crore.
Additional Sessions Judge Sandeep Yadav dismissed the bail plea of Singh, arrested on October 27, considering the severity and seriousness of the crime allegedly committed by him.
Former Fortis Healthcare promoters Malvinder Singh, his brother Shivinder Singh, former CMD of REL Sunil Godhwani (58), Kavi Arora (48) and Anil Saxena were arrested in the case by the Economic Offences Wing (EOW) of Delhi Police last year, for allegedly diverting Religare Finvest Ltd's money and investing in other companies.
The EOW registered an FIR in March last year after it received a complaint from RFL's Manpreet Suri against Shivinder, Godhwani and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies. ED lodged a money laundering case based on this.
RFL is a group firm of REL, which was earlier promoted by Malvinder and his brother Shivinder.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU