New Delhi: A Delhi court extended Monday the judicial custody of former Fortis Healthcare promoter Malvinder Singh and a co-accused by two weeks in a money laundering case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL).
Besides Malvinder, the court remanded Sunil Godhwani, former CMD of Religare Enterprises Ltd (REL), to judicial custody till January 6 next year.
Additional Sessions Judge Sandeep Yadav passed the order after the probe agency said judicial custody of the accused was required as further investigation was going on in the case.
The agency had taken both into custody November 14 from Tihar jail, where they have been lodged in a case filed by the Delhi Police in relation to the alleged scam.
ED’s Special Public Prosecutor Nitesh Rana had earlier said that Malvinder Singh and Godhwani have been accused of laundering money, punishable under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA).
RFL is a group firm of REL, which was earlier promoted by Malvinder and his brother Shivinder Singh.
Earlier, Malvinder and Godhwani were in judicial custody along with Shivinder and two others – Kavi Arora and Anil Saxena – in a case filed by the Economic Offences Wing (EOW) of Delhi Police.
The ED alleged that both the brothers, along with others, transferred an amount of about Rs 1,000 crore to various persons from entities linked to the corporate loan book and finally, the money was siphoned off.
Malvinder (46), Shivinder (44), Godhwani (58), Arora (48) and Saxena were arrested by EOW for allegedly diverting the money and investing in other companies.
PTI
