Ex-Fortis promoters Malvinder, Shivinder sent to police custody
The others named in the FIR are Sunil Godhwani (58), the former chairman and managing director of the REL, Kavi Arora (48) and Anil Saxena, who held key positions in the REL and RFL.
A Delhi court on Friday sent two businessmen brothers Malvinder Singh and Shivinder Singh arrested in an alleged fraud case to four-day police custody, observing their offence was of “very serious nature”, even as the latter moved the Delhi high court to quash the FIR against him.
The Singh brothers, who are former promoters of Fortis Healthcare and Ranbaxy Laboratories, fought multiple legal battles in three different courts.
While the Delhi high court reserved the order on whether to issue notice to the police and the Centre on the plea of Malvinder to quash the FIR, a trial court sent him, his younger brother Shivinder and three others to police custody after they were arrested for allegedly misappropriating funds of Religare Finvest Ltd (RFL), causing it losses of ₹2,397 crore.
The high court also heard the applications filed by Radha Soami Satsang Beas (RSSB) head Gurinder Singh Dhillon and his family members that they do not owe any money to RHC Holdings Pvt Ltd, promoted by the Singh brothers.
The economic offences wing (EOW) of Delhi Police formally arrested Malvinder on Friday morning after detaining him in Ludhiana. The others were arrested on Thursday.
Apart from Malvinder (46), Shivinder (44), the others named in the FIR are Sunil Godhwani (58), the former chairman and managing director of the REL, Kavi Arora (48) and Anil Saxena, who held key positions in the REL and RFL.
All five of them were on Friday produced before chief metropolitan magistrate Deepak Sherawat who allowed their custodial interrogation by the EOW.
The judge said the police custody is necessary to “trace the trail of the cheated amount and find out the role of other persons who might have participated in the conspiracy and confrontation with the other officials of RFL and REL (Religare Enterprises Limited)”.
“I am of the opinion that four-day police remand of the accused is necessary at this stage. Hence, application of the investigating officer is allowed and accused persons be remanded to police custody for a period of four days and accused be produced on October 15.” RFL has accused them of diverting funds, claiming that loans were taken by Shivinder while managing the firm but the money was invested in other companies.
