Business

Delhi High Court rejects bail granted to Shivinder Singh in EOW case

This case is related to Religare Finvest, from which Shivinder and other accused had invested in other companies by taking loan.

Delhi High Court rejects bail granted to Shivinder Singh in

The Delhi High Court on Monday set aside an order granting bail to Shivinder Singh, former promoter of Fortis Healthcare, in connection with the alleged diversion of funds in Religare Finvest Ltd (RFL). The court said that Shivinder’s custody is necessary to unearth the “conspiracy on his part” and to unearth the misappropriation of funds.

The RFL had filed a petition in the High Court against the order of the lower court granting bail to Shivinder. The case was filed against him by the EOW on charges of fraud, criminal conspiracy and criminal breach of trust.

Accepting the petition of the company, the High Court observed that there are serious allegations against the respondent No. 2 (Shivinder) in this case. Justice Suresh Kumar Kait said, “I have no hesitation in stating that there are lapses in the order of bail and it is not in the direction of justice. The custody of Shivinder in this case is to expose the conspiracy on his part and his It is necessary to find out the misappropriation of funds for personal gain.”

The EOW of Delhi Police had registered an FIR in the matter two years back after receiving a complaint against Shivinder from Manpreet Suri of RFL.

Besides Shivinder, former chairman and managing director of Religare Enterprises Limited Sunil Godhwani, former chief executive officer Kavi Arora and some others have also been made accused in the case.

All of them are accused of taking loans and investing them in other companies while handling the business of the company.

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