HC grants bail to ex-Fortis Healthcare promoter Shivinder Singh in money laundering case – Times of India: Shivinder Singh (File picture)
HC grants bail to ex-Fortis Healthcare promoter Shivinder Singh in money laundering case – Times of India
NEW DELHI: The Delhi excessive court docket on Thursday granted bail to former Fortis Healthcare promoter Shivinder Mohan Singh in a cash laundering case associated to alleged misappropriation of funds at Religare Finvest Ltd (RFL).
Justice Anup Jairam Bhambhani, who pronouced the order by video conferencing, granted the reduction to Shivinder in furnishing of an individual bond of Rs one crore and two sureties by members of the family of Rs 25 lakh every.
The choose additionally directed the investigating officer of the ED to request the Bureau of Immigration to open LOC in Shivinder’s title to forestall any unannounced exit from the nation.
The excessive court docket imposed numerous different bail situations on him, together with that he shall not tamper with the proof or affect witnesses, instantly or not directly.
He was arrested within the cash laundering case final 12 months.
The excessive court docket had reserved its order on the bail plea on July 16 after listening to arguments from the counsel for Shivinder and Enforcement Directorate (ED).
ED had opposed the bail plea saying that within the current case, cash was diverted by a fancy internet of transactions and discovering the path was not simple.
RFL is a gaggle agency of REL – Religare Enterprises Ltd, which was earlier promoted by Malvinder Singh and his brother Shivinder Singh.
The EOW registered an FIR in March final 12 months after it acquired a grievance from RFL’s Manpreet Suri towards Shivinder, Godhwani and others, alleging that loans have been taken by them whereas managing the agency however the cash was invested in different corporations. ED lodged a cash laundering case primarily based on this.