RFL MONEY LAUNDERING
RFL PMLA case: ED attaches Rs 124-cr worth assets
Enforcement Directorate attached Rs 124 crore assets in money laundering probe on Religare Finvest Limited, including properties in Gurugram and Delhi. Investigation involves inflated land value, corporate loan fraud, and foreign properties like AXA China Insurance Company.
Religare Finvest case: Rs 400 crore diverted to Hong Kong via ICDs
The Directorate of Enforcement investigation into Religare Finvest reveals that ₹400 crore was allegedly diverted to Hong Kong. Former Fortis promoters Malvinder and Shivinder Singh are charged under the Prevention of Money Laundering Act in the investigation. Four shell companies and inter-corporate deposits were used to divert ₹750 crore to erstwhile Lakshmi Vilas Bank.
ED searches Essel Group cos' premises in Religare money laundering case
The Enforcement Directorate (ED) conducted searches on Essel Group-linked entities in relation to money laundering involving Religare Finvest Ltd. The Religare group granted ₹150 crore loans to Essel companies in 2014, allegedly defaulted through a fraudulent settlement agreement in 2018.
ED searches Essel Group companies in RFL money laundering case
The Essel Group is promoted by media baron Subhash Chandra and owns stake in leading media and entertainment companies which includes - Zee Entertainment Enterprises Ltd, Zee Media Corporation and Dish TV.
ED to file fresh chargesheet against Malvinder and Shivinder Mohan Singh bros, others
The supplementary charge sheet will also put a spotlight on monies allegedly diverted to foreign shores by Singh brothers and co-accused. The federal agency has received information from some of the countries where the alleged proceeds of crime were parked, said people quoted above.
Religare Finvest funds diverted to UK tax haven Jersey, says Enforcement Directorate
ED's money laundering probe on Religare Finvest Ltd reveals diversion of funds to British tax haven Jersey. Response to letter rogatory (LR) by Jersey authorities being examined. ₹2,036.69 crore allegedly embezzled from RFL. Former Fortis promoters Malvinder and Shivinder Mohan Singh charged with fund diversion. Singh brothers also allegedly diverted money to M3M India Holdings. Fresh evidence leads to ED raids at multiple locations. Complaint by Religare triggers investigation. Chargesheet filed in January 2020 reveals siphoning off public funds. Battle for control between Religare Enterprises Ltd and Burmans of Dabur Group.
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Enforcement Directorate searches nine RFL-linked offices
In a regulatory filing, Religare Enterprises said RFL had made a request to the ED to expedite the probe. RFL has also promised its lenders that it would make "all possible efforts" to recover the siphoned off funds, a Religare Enterprises spokesperson told ET, adding that RFL had commissioned a forensic audit to trace the assets and money trail.
ED concludes searches in RFL case; documents, digital data seized
The Enforcement Directorate (ED) concluded its searches on Saturday in a money laundering investigation related to the alleged diversion of funds exceeding Rs 2,000 crore from Religare Finvest Limited (RFL). The searches, initiated on Friday, covered nine locations in Delhi-NCR, including the corporate offices of RFL, M3M India Holdings, RHC Holding Pvt Ltd, Hillgrow Infrastructure Pvt Ltd, Dion Global Solutions, and Prius commercial.
EOW's RFL case: HC grants bail to Malvinder Singh and three others
"In case it is established that the applicant tried to tamper with the evidence, the bail granted to the applicant shall stand cancelled forthwith," the high court said. It also said the investigation in the case is complete and the main charge sheet as well as supplementary charge sheets have already been filed before the trial court.
Siphoning of RFL funds: SC dismisses interim bail plea of Shivinder Mohan Singh
Singh had sought interim bail for a short period on “humanitarian grounds” for helping his ailing mother to take part in the last rituals of his maternal uncle, who died on March 8 in Haryana. “We are of the opinion that the presence of the accused was not a must...,” said a bench of Justices M R Shah and B V Nagrathna while dismissing the plea.
Delhi court junks interim bail plea of ex-Fortis Healthcare Promoter Malvinder Singh in PMLA case
Additional Sessions Judge Sandeep Yadav declined the plea of Singh, who is in jail in a case related to alleged misappropriation of funds at Religare Finvest Limited (RFL). He approached the court praying to be released on an interim bail for two months, on the ground he was down with high fever from April 25 with severe body ache.
SC stays bail granted to ex-Fortis Healthcare promoter Shivinder Singh in money laundering case
A bench comprising justices Arun Mishra, B.R.Gavani and Krishna Murari on Friday passed the direction on a plea moved by the Enforcement Directorate against a Delhi High Court judgement granting bail to Singh.
Enforcement Directorate moves Supreme Court against bail granted to Shivinder Singh
On July 23, the Delhi High court finding“no rationale” in continuing his custody as undertrial, had granted bail to Shivinder Mohan Singh, erstwhile promoter of Religare Enterprises Limited in a money laundering case registered against him by ED. The Court held “Investigation has to be a time-limited process, to be conducted strictly within the structure and framework of applicable law”.
Delhi HC reserves order on Fortis Healthcare ex-promoter Shivinder Singh's bail plea
Justice Anup Jairam Bhambhani sought certain clarifications from the counsel for Shivinder as well as the Enforcement Directorate (ED) and reserved the verdict.
HC seeks ED's response on ex-Fortis Healthcare Promoter Shivinder Singh bail plea
Central government standing counsel Amit Mahajan, representing the ED, argued that releasing Shivinder on bail would hamper further investigation and recently, the trial court had refused to grant him bail after passing a very detailed order.
RFL case: Delhi court dismisses bail plea of ex-Fortis Healthcare Promoter Shivinder Singh
The court further said the fact that Shivinder managed to smuggle a phone while he was in the custody of the ED spoke volume about his conduct and intention.
Religare fraud: ED to reach out to foreign countries to identify proceeds of crime parked abroad
In its charge sheet that accused former Religare promoters Malvinder and Shivinder Singh of money laundering, the agency said it is in the “process of issuing letters rogatory (LRs) to foreign jurisdictions”. The agency also told a local court that of the total Rs 2,036.69 crore of estimated proceeds of crime, investigation over Rs 300 crores has been completed.
Religare fraud: Enforcement Directorate set to file chargesheet
Malvinder Singh and Shivinder Singh, ex promoters of REL were booked & arrested by the agency last year.
Malvinder Singh arrested in another case of funds misappropriation
RFL alleged that Malvinder Singh and his brother Shivinder Mohan Singh in connivance with the employees of Lakshmi Vilas Bank misappropriated two FDs of Rs 400 crore and Rs 350 crore made with the Lakshmi Vilas Bank by the complainant company, the police said.
RFL money laundering case: Court extends judicial custody of Malvinder, co-accused till January 6
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 on November 14 from Tihar jail, where they had been lodged in a case filed by the Delhi Police in relation to the alleged scam.
RFL money-laundering: Court sends ex-Fortis Healthcare promoter Shivinder to ED custody till Dec 19
A Delhi court on Friday sent former Fortis Healthcare promoter Shivinder Singh to Enforcement Directorate (ED) custody till December 19 in a money laundering case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL).
ED arrests Former Religare Promoter Shivinder Singh
Shivinder Singh was in judicial custody after the Delhi Police's Economic Offences Wing had arrested him and others recently. A Delhi Court had on Thursday rejected his bail plea in this police case. The ED had earlier arrested Shivinder Singh's brother Malvinder Mohan Singh in this case.
RFL scam: Court rejects bail plea of ex-Fortis Healthcare promoter Shivinder Singh
Singh's brother Malvinder (46), also a former Fortis Healthcare promoter, 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.
RFL scam: Delhi HC sends ex-Fortis Healthcare promoter Malvinder to ED custody till November 28
The Delhi high court on Wednesday allowed the Enforcement Directorate (ED) to conduct custodial interrogation till Thursday of former Fortis Healthcare promoter Malvinder Singh and another co-accused to confront them with voluminous documents and several witnesses in a money laundering case related to alleged misappropriation of funds at Religare Fivest Ltd (RFL).
Need Malvinder Singh's custody to confront him with docs, witnesses in RFL scam, ED tells HC
The trial court had on November 23 dismissed the agency's application for further custodial interrogation of Singh and Godhwani and had sent them to judicial custody till December 7.
RFL fund: HC seeks Malvinder's reply on ED plea against order refusing further police custody
The Enforcement Directorate has sought extension of police custody of former Fortis Healthcare promoter Malvinder Singh & Sunil Godhwani, former CMD of Religare Enterprises Limited (REL) till November 28. The agency had taken both into custody on Nov 14 from Tihar, where they had been lodged due to a case filed by the Delhi Police, related to the alleged scam.
Delhi court disposes plea to extend custodial interrogation of Malvinder Singh
The ED had filed an application in a Delhi court seeking five days further custody of Singh, in a money laundering case lodged by the ED in relation to an alleged misappropriation of funds of Religare Finvest Ltd . The ED told that court that new facts have emerged after interrogation and during the course of interrogation emails dump of accused.
RFL case: Court extends ED custody of ex-Fortis Healthcare promoter Malvinder Singh
Special Judge extended the ED custody of both Malvinder Singh and former CMD of Religare Enterprises Ltd Sunil Godhwani till November 23 on a plea moved by agency's special public prosecutor Nitesh Rana. The ED had taken both the accused in its custody on November 14 inside the jail, where they were lodged in a case filed by the Delhi Police in relation to the alleged scam.
RFL case: Court sends ex-Fortis Healthcare promoter Malvinder Singh to ED custody
The ED had taken both the accused in its custody on November 14 inside the jail here, where they were lodged in a case filed by the Delhi Police in relation to the alleged scam, a lawyer associated with the case said.
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