Malvinder Singh And Shivinder Singh

Apart from a forensic audit in the Fortis-IHH deal, the Supreme Court on Thursday also announced a jail term of six months for Malvinder Singh and Shivinder Singh in the Daiichi-Fortis case.

The high court rejected Malvinder's plea challenging the criteria laid down by the high powered committee for granting interim bail to under trial prisoners on the ground of prevalence of the Covid-19

Singh moved the representation after his plea for interim bail was denied by the high court which gave him liberty to approach the committee if he was aggrieved by the criteria laid down by it

Chief Metropolitan Magistrate Gurmohina Kaur on Monday rejected Singh's bail application on the ground that he was required to be kept in judicial custody for proper investigation in the case

The submission was made before Chief Metropolitan Magistrate Gurmohina Kaur during hearing of arguments on the bail plea moved by Singh in the case lodged by the EoW of Delhi Police

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Religare said in a statement that ED's move vindicates its claim that the erstwhile promoters and Godhwani were at the helm of affairs when the frauds were committed

Court also extended judicial custody of former CMD of Religare Enterprises Limited Sunil Godhwani for two weeks

The court also extended till December 23 the judicial custody of Malvinder and Godhwani in a separate money laundering case related to the misappropriated funds scam

Besides Malvinder, Delhi High Court also remanded Sunil Godhwani, former CMD of Religare Enterprises Ltd, to ED's custody till November 28

Justice Chander Shekhar heard part arguments of counsel for the Enforcement Directorate (ED) and the accused and listed the case for further hearing on Wednesday

The trial court had on Saturday dismissed the agency's application for further custodial interrogation of Singh

The ED had arrested Singh and Godhwani in the money laundering case on November 14

Singh and Godhwani are accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act

The Supreme Court held Fortis' founders -- Malvinder Singh and Shivinder Singh -- guilty of contempt of court

Daiichi Sankyo has alleged the brothers created encumbrances on 1.2 million shares of Fortis in violation of court orders

ED took the accused in its custody inside the Tihar central jail here

Chief Metropolitan Magistrate Deepak Sherawat took note of the submission and issued production warrant for the accused persons for Tuesday

The bonhomie among Shivinder and the other members of the family was evident as they sat outside the chief metropolitan magistrate's court awaiting the order copy

The police also arrested former Religare Finvest MD Kavi Arora, and former Religare Group CFO Anil Saxena along with former Religare MD Sunil Godhwani