Home >Companies >People >ED arrests former Ranbaxy promoter Shivinder Singh

NEW DELHI : The Enforcement Directorate (ED) on Thursday arrested former Ranbaxy promoter Shivinder Singh from Tihar jail, two months after he had been arrested by the Delhi police.

A Delhi court Thursday dismissed the bail plea of former Fortis Healthcare promoter Shivinder Singh in a case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL).

Additional Sessions Judge Gulshan Kumar said there was every likelihood of Singh fleeing from justice and hampering the trial.

Singh's brother Malvinder (46), also a former Fortis Healthcare promoter, former CMD of Religare Enterprises Ltd (REL) Sunil Godhwani (58), Kavi Arora (48) and Anil Saxena were arrested by the Economic Offences Wing (EOW) of Delhi Police for allegedly diverting RFL's money and investing in other companies.

Since the investigation was at a crucial stage, custodial interrogation was still required in the case, the court said.

On 11 October The Delhi police’s Economic Offences Wing (EOW) arrested pharmaceutical giant Ranbaxy Ltd’s former promoters Shivinder and Malvinder Singh in early hours on Friday, hours after he was detained in Ludhiana late on Thursday, for allegedly causing wrongful loss worth 2,397 crore to Religare Finvest Ltd.

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