A court in Delhi on Monday allowed the Enforcement Directorate five more days of custodial interrogation of former Ranbaxy promoter Malvinder Singh and former chairman-cum-managing director of Religare Enterprises Limited Sunil Godhwani in a money laundering case, PTI reported.
The two were in judicial custody after they were arrested last month along with three others by the Economic Offences Wing of the Delhi Police for alleged diversion of Religare Finvest Limited funds and for losses to the tune of Rs 2,397 crore. Religare Finvest is a subsidiary of Religare Enterprises. The accused were taken into custody by the Enforcement Directorate on Thursday.
In its application, the ED had sought 11 days more to interrogate Singh and Godhwani.
“After considering rival submissions and having gone through the application, the court is of opinion that further custodial interrogation of accused is required for effective and meaningful investigation,” special judge Sandeep Yadav said. “Accordingly, accused are remanded to custody of ED till November 23.”
The Economic Offences Wing had filed the first information report in March on a complaint lodged by Manpreet Singh Suri of the RFL, alleging cheating and misappropriation. Among those arrested were Kavi Arora, Anil Saxena and Singh’s younger brother Shivinder Singh.
They were accused of cheating, fraud and misappropriation of funds. Religare Finvest has claimed that loans were taken by Shivinder Singh while managing that firm but the money was invested in other companies.
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