Delhi Police to SC: Need four more months for probe into case against Shivinder Singh

Asia's Tech News Daily

supreme court, delhi police, shivinder singh, religare, fortis healthcare

Delhi Police on Thursday told the Supreme Court it needed four more months to complete the probe in a case in which former

Fortis Healthcare

promoter Shivinder Mohan Singh is accused of misappropriating Rs 2,397 crore of

Religare

Finvest Ltd funds. Delhi Police’s Economic Offences Wing gave the timeline before a bench headed by Chief Justice N V Ramana which has now listed Singh’s bail plea for hearing on Monday.

“How much time should it take to complete the investigation? It cannot be an unending story,” the bench had observed while asking the police to give a time line for concluding the probe.

“We will list it on Monday,” the bench, which also comprised Justices Surya Kant and Hima Kohli, said.

Senior advocate A M Singhvi, appearing for Singh, said the accused has been in jail for the last two years. Moreover, his custody is not needed for the investigation as two charge sheets have already been filed, he added.

Delhi Police has said it needs four more months to conclude the investigation if unforseen circumstances do not hit the ongoing probe, the bench said after perusing the report of the police.

In May, the Delhi High Court cancelled Singh’s bail, noting that his detention was necessary to unearth the “conspiracy hatched by him” and trace the alleged siphoned off money.

The order was passed on a plea by Religare challenging the March 3 order of the trial court granting bail to Singh in the case registered against him by the EOW under charges of cheating, criminal conspiracy and criminal breach of trust.

Singh has moved the top court against the Delhi High Court cancelling the bail granted to him by the trial court in the case.

The EOW registered an FIR in March 2019 after it received a complaint from RFL’s Manpreet Suri against Shivinder, former CMD of Religare Enterprises Limited (REL) Sunil Godhwani and former CEO of RFL Kavi Arora and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies.

According to the prosecution, RFL’s authorised representative Manpreet Suri alleged that these accused put RFL in poor financial condition by disbursing loans to entities having no financial standings and willfully defaulted in repayments thereby caused wrongful loss to RFL to the tune of Rs 2,397 crore.

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