 of the Delhi Police along with three others.){kind=link}
New Delhi: The Delhi Police on Thursday arrested former Fortis Healthcare promoter Shivinder Singh and three others in an alleged fraud case, officials said.
Kavi Arora, Sunil Godhwani and Anil Saxena were also arrested by the Economic Offence Wing of Delhi Police for allegedly diverting public money and investing in other companies, they said.
A complaint was filed by Religare Finvest Limited (RFL) alleging that loans were taken by Singh while managing that firm but the money was invested in other companies.
“RFL saw a change in management. When the new management took over, they found that a loan had been taken but the money been invested in other companies linked to Singh and his brother. They filed a complaint with the EOW and subsequently, an FIR was registered,” said a senior police officer.
The EOW is now on the lookout for Malvinder Singh, who according to reports, is in Ludhiana for some medical treatment.
Both Shivinder Mohan Singh and Sunil Godhwani were arrested by the Delhi Police’s Economic Offences Wing (EOW) on Thursday, for alleged fraud to the tune of Rs740 crore.
The Enforcement Directorate (ED), in August, had also searched residences of former Ranbaxy chief executive officer (CEO) Malvinder Singh and his brother Shivinder in New Delhi in connection with a money laundering case.
The searches followed after the agency registered a case against the duo under the Prevention of Money Laundering Act (PMLA), following allegations of financial irregularities and subsequent downfall of their businesses.
Earlier in February, Malvinder Singh had filed a criminal complaint against his brother Shivinder Singh alleging financial fraud.
An official statement from The Delhi Police is awaited.
Shivinder and Malvinder Singh is the former promoter of Religare Enterprises Ltd and Fortis Healthcare Ltd, while Sunil Godhwani is the former chairman and managing director of Religare.
The three have been at the centre of multiple controversies, including alleged financial fraud at Religare and Fortis, and were also taken to court by Japanese drugmaker Daiichi Sankyo Co for enforcement of a arbitration award of nearly 2,600 crore by a Singapore tribunal in a case involving their former company Ranbaxy Laboratories.