Businessman Malvinder Singh has filed a complaint against his spiritual guru Gurinder Singh Dhillon, the head of Radha Soami Satsang Beas, among others, with Delhi Police’s Economic Offences Wing (EOW) for allegedly siphoning off proceeds from the sale of Ranbaxy Laboratories Ltd.
Singh has also accused his brother Shivinder, the family members of Dhillon and his former associates Sunil and Sanjay Godhwani of conspiring to misappropriate the funds of RHC Holding Pvt Ltd, the company that owned assets of the group and has sought ₹8,742 crore from the accused in compensation.
Documents reviewed by Mint show that Singh repeatedly reached out to Babaji, as Dhillon is called, to “resolve" financial matters.
According to an email sent to Dhillon on 2 June, 2018, Singh asked Dhillon to settle dues so that lenders can be “repaid".
The emails show that the Singh brothers had given financial advances to the guru--directly to his entities and family and were invested at his directions. “As you are aware the account has two parts to it. 1. The monies given directly to family members and your entities, and 2. As per our oral understanding, investments held for you and losses proportionate to your shareholding that were parked with us for business reasons which you suggested," reads the email.
It appears that Dhillon and the Singh brothers had decided to close the matter “amicably" and “fairly" and decided to sign a memorandum of understanding (MoU) to settle the financial aspects. “I would want nothing more than to sign the MoU," Singh wrote, suggesting that the dues had risen to ₹8,646 crore as on 31 March 2016. “We really urge you to help settle the dues so that we can repay the lenders."
In another email on 12 July, 2018, Singh said that out of the ₹6,500 crore that the brothers received from the Ranbaxy sale in 2008, after investing ₹2,500 crore in Fortis, the rest of the money was given to Sunil Godhwani as per Dhillon’s directions for deployment in “safe avenues". “In less than 10 years, not only the entire initial corpus has vanished, we have liabilities of over ₹10,000 crore," Singh said. “Today our survival is completely dependent upon support from you."
Emails sent to Dhillon, Shivinder Singh and Sunil Godhwani didn’t elicit any response till the press time. The complaint to EOW was first reported by Business Today on 17 February.
Malvinder Singh has said in his complaint that his younger brother Shivinder permitted the “siphoning" off of funds with the “motive of gaining ultimate control of the seat of spiritual head of the RSSB" which has been promised to him by Dhillon in lieu of financial gain to himself.