- Home
- Medical news & Guidelines
- Anesthesiology
- Cardiology and CTVS
- Critical Care
- Dentistry
- Dermatology
- Diabetes and Endocrinology
- ENT
- Gastroenterology
- Medicine
- Nephrology
- Neurology
- Obstretics-Gynaecology
- Oncology
- Ophthalmology
- Orthopaedics
- Pediatrics-Neonatology
- Psychiatry
- Pulmonology
- Radiology
- Surgery
- Urology
- Laboratory Medicine
- Diet
- Nursing
- Paramedical
- Physiotherapy
- Health news
- Fact Check
- Bone Health Fact Check
- Brain Health Fact Check
- Cancer Related Fact Check
- Child Care Fact Check
- Dental and oral health fact check
- Diabetes and metabolic health fact check
- Diet and Nutrition Fact Check
- Eye and ENT Care Fact Check
- Fitness fact check
- Gut health fact check
- Heart health fact check
- Kidney health fact check
- Medical education fact check
- Men's health fact check
- Respiratory fact check
- Skin and hair care fact check
- Vaccine and Immunization fact check
- Women's health fact check
- AYUSH
- State News
- Andaman and Nicobar Islands
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chandigarh
- Chattisgarh
- Dadra and Nagar Haveli
- Daman and Diu
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu & Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Lakshadweep
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Puducherry
- Punjab
- Rajasthan
- Sikkim
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttrakhand
- West Bengal
- Medical Education
- Industry
RELIEF: Former Fortis Healthcare promoter Shivinder Singh finally gets bail in Religare money laundering case
New Delhi: In a major relief to former Fortis Healthcare promoter- Shivinder Mohan Singh; the Delhi High Court has finally granted him bail in Religare Finvest Ltd (RFL) money laundering case on furnishing a personal bond of Rs 1 crore and 2 sureties by family members of Rs 25 lakh each.
The order was pronounced by Justice Anup Jairam Bhambhani on July 23, 2020, with various other bail conditions imposed on him including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
The court also directed the investigating officer of the Enforcement Directorate (ED) to request the Bureau of Immigration to open LOC in Shivinder's name to prevent any unannounced exit from the country.
He was arrested in the money laundering case in 2019. The ED in January had filed a charge sheet against former Fortis Healthcare promoters Malvinder Mohan Singh and Shivinder as also former CMD of Religare Enterprises Limited (REL) Sunil Godhwani in the money laundering case related to alleged misappropriation of funds at RFL.
Also Read: No COVID-19 Relief: HC Rejects Bail Plea Of Ex-Fortis Promoter Shivinder Singh
Earlier this month, on July 16, the high court had reserved its order on the bail plea after hearing arguments from the counsel for Shivinder and Enforcement Directorate (ED). The high court, which had conducted the hearing through video conferencing, on June 22 had issued notice and sought response from the ED on the bail plea.
Central government standing counsel Amit Mahajan, representing the ED, had then opposed the bail plea saying that in the case, money was diverted through a complex web of transactions, and finding the trail was not easy. He had argued that releasing Shivinder on bail would hamper the further investigation and, a trial court had refused to grant him bail after passing a very detailed order.
Also Read: Ex-Fortis Healthcare Promoter Shivinder Singh Bail Plea: Delhi HC Reserves Order
RFL is a group firm of REL - Religare Enterprises Ltd, which was earlier promoted by Malvinder Singh and his brother Shivinder Singh.
The EOW registered an FIR in March last year after it received a complaint from RFL's Manpreet Suri against Shivinder, Godhwani, and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies. ED lodged a money laundering case based on this, reports PTI.
Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751