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Malvinder Singh. (Photo: Mint)
Malvinder Singh. (Photo: Mint)

Religare case: Probe agencies trying to shield Gurinder Singh Dhillon says Malvinder Singh's counsel

  • Advocate Ramesh Gupta appearing for the respondents said the agency is not honest with their investigation
  • The ED had arrested Singh and Godhwani on 14 November

NEW DELHI : Delhi High court on Tuesday heard arguments on Enforcement Directorate’s plea for custodial interrogation of former promoter of Fortis Healthcare Malvinder Singh and former Managing Director of Religare Enterprises Sunil Godhwani in a money-laundering case related to alleged misappropriation of funds of Religare Finvest Limited (RFL).

Advocate Ramesh Gupta appearing for the respondents said the agency is not honest with their investigation.

“They have searched and seized the documents. I have joined the investigation whenever they asked of me. They are not touching the baba with whom 2000 crore is already there. They just want my confession. They want to know where the money is parked. I have nothing to do with those companies." He argued.

“They have arrested me only. They did not arrest the other accused. They want to shield Gurinder Singh Dhillon." He further added.

On the other hand, it was argued by standing counsel Amit Mahajan that there are 22 companies where 2300 crore has been transferred and there is an enormous material which needs to be confronted with the accused.

“I am trying to unearth the crime and trace the proceeds." He said.

The court will now hear further arguments on Wednesday.

The ED had arrested Singh and Godhwani on 14 November, following which their custody with the ED was extended twice. On 23 November, a Saket court rejected the ED's plea for extension of custody and remanded the two to judicial custody till 7 December.

ED had moved the Delhi high court against the trial court’s order.

Singh and Godhwani are accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act (PMLA).

In December, Religare Enterprises and its subsidiary filed a complaint with the corporate affairs ministry alleging misappropriation of funds worth 2,230 crore of the company and its units.

The complaint also alleged that illegal issuances and redemption of preference shares led to undue gains of approximately 290 crore to promoter groups.

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