Malvinder is accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act.
The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case related to the alleged misappropriation of funds at Religare Finvest. A team of ED officials went to Tihar Jail and placed Singh under arrest as per the provisions of the Prevention of Money Laundering Act.
The Supreme Court on Wednesday dismissed the plea for interim bail of former Fortis Healthcare promoter Shivinder Mohan Singh who along with others is accused of misappropriating Rs 2,397 crore of Religare Finvest Ltd (RFL) funds. Singh had sought interim bail for a short period on "humanitarian grounds" for helping his ailing mother to take part in the last rituals of his maternal uncle, who died on March 8 in Haryana. "We are of the opinion that the presence of the accused was not a must...," said a bench of Justices M R Shah and B V Nagarathna while dismissing the plea.
Religare's CMD talks about the deals for the Singh brothers of Ranbaxy and how clever structuring of deals, like on loss-making Bollywood film Rann, ensures there's no downside for the group.
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
What will be the impact on the Euro itself? Will it devalue and to what extent?
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