RHC Holding Pvt. Ltd, the holding company controlled by brothers Malvinder and Shivinder Singh, made loans worth ₹5,482 crore to Dhillon’s family members, their associates or entities controlled by them, and a majority of these was used to purchase bungalows, farmhouses and buildings, according to the complaint filed by Malvinder Singh with the Economic Offences Wing of Delhi Police in February.
Dhillon invested in commercial properties, including a prime 260,000 sq. ft land in Delhi (near the Select Citywalk mall), 80,000 sq.ft of property in Ahmedabad, 500,000 sq.ft of land in Noida, three farmhouses in Asola and 20 acres of land in Gurgaon, Malvinder Singh alleged.
Subsidiaries of RHC Holding had lent funds to Prius Real Estate Pvt. Ltd, previously owned by Dhillon’s wife, Shabnam Dhillon, and his close associate Yuvraj Narain Gorwaney, two people familiar with the developments said. The same entity was later owned by Dhillon’s confidants—Rajveer Singh and Gurpreet Sodhi. However, the entity has now moved to two trusts, Jamuntree and Grace Trust.
“When the money went from RHC to Prius Real Estate, it was owned and controlled by the Dhillon family and these decisions were directly taken by Sunil Godhwani as he was running RHC," one of the two people close to Malvinder Singh and his brother said on condition of anonymity.
Emails sent to Dhillon and Godhwani did not elicit a response till press time.
In his complaint, Malvinder Singh shared emails showing that the brothers had given financial advances to Dhillon, his entities and family.