Former Ranbaxy promoter Shivinder Singh arrested | Details inside

The Hush Post | 7:30 pm | One-minute read

The Economic Offences Wing (EOW) of Delhi police arrested former promoter of Ranbaxy Laboratories, Shivinder Singh, on Thursday along with three others following a complaint by Religare Enterprises Ltd. The company has accused them of diverting funds to the tune of Rs 740 crore.

The other three arrested are Kavi Arora, Anil Saxena and Religare’s former CEO Sunil Godhwani. According to media reports, Shivinder has apparently dragged his elder brother Malvinder Singh to the court for the mismanagement in family business.

ED, in August, had raided the premises of Shivinder and Malvinder in connection with a money-laundering case. The officials said that the raid was conducted after the filing of the case under the Prevention of Money Laundering Act.

The action was taken in the backdrop of the alleged charges relating to the financial irregularities against the Singh brother and the downfall of their businesses.

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