News Nation Logo

Former Ranbaxy Promoters Malvinder Singh And Shivinder Singh Sent To 4-Day Police Remand

Former Fortis Healthcare Promoters Malvinder Singh, His Brother Shivinder Mohan Singh And Three Others Were Sent To Police Remand For Four Days On Friday.

News Nation Bureau | Edited By : Pawas Kumar | Updated on: 11 Oct 2019, 03:26:17 PM
Malvinder Singh and Shivinder Singh were produced before Delhi's Saket court

New Delhi:

Former Fortis Healthcare promoters Malvinder Singh, his brother Shivinder Mohan Singh and three others were sent to police remand for four days on Friday. The Singh brothers and others have been arrested for allegedly misappropriating funds of Religare Finvest Ltd (RFL) and causing it losses of Rs 2,397 crore. They were produced before Delhi's Saket court on Friday.  Sunil Godhwani, the former chairman and managing director of Religare Enterprises Ltd (REL), Kavi Arora and Anil Saxena, who occupied important positions in REL and RFL, have also been arrested by the Economic Offences Wing (EOW) of Delhi Police for allegedly diverting money and investing in other companies.

All the accused were produced before Chief Metropolitan Magistrate Deepak Sherawat and the police sought their custodial interrogation for six days. 

RFL is a subsidiary of the REL. Shivinder and his elder brother Malvinder were earlier the promoters of REL.

For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.

First Published : 11 Oct 2019, 03:10:25 PM