NEW DELHI, Oct 11: A Delhi court today granted the police 4-day custody of former Fortis Healthcare promoters Malvinder Singh, his brother Shivinder and three others, arrested for allegedly misappropriating funds of Religare Finvest Ltd (RFL), causing it losses of Rs 2,397 crore, saying the offence was of “very serious nature”.
Chief Metropolitan Magistrate Deepak Sherawat allowed custodial interrogation of the five people who were arrested by the Economic Offences Wing (EOW) of Delhi Police.
“The offence is of very serious nature involving huge amount of siphoning of money,” the court said.
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)”.
He added: “I am of the opinion that four days PC (police custody) remand of the accused persons 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.”
Malvinder (46) was arrested today morning while Shivinder (44), Sunil Godhwani (58), the former chairman and managing director of Religare Enterprises Ltd (REL), Kavi Arora (48) and Anil Saxena, who occupied important positions in REL and RFL, were arrested yesterday by the EOW for allegedly diverting the money and investing in other companies. (PTI)
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