A Delhi court on Friday sent former Fortis Healthcare promoter Malvinder Singh and ex-CMD of Religare Enterprises Ltd (REL) Sunil Godhwani to the custody of the Enforcement Directorate (ED) till November 18 in connection with a money laundering case.
The ED had on Thursday arrested the two in a connection with the case pertaining to alleged misappropriation of funds of Religare Finvest Ltd (RFL).
They were then produced before a court seeking production warrant to quiz them in the custody, however, the court had directed that the two be produced before a metropolitan magistrate in the central jail itself owing to the strike in the district courts of Delhi.
Singh and Godwani are accused of laundering money, punishable under sections 3 and 4 of the Prevention of Money Laundering Act, the ED said.
They were in judicial custody along with Kavi Arora and Anil Saxena in the case.RFL is a group firm of REL, which was promoted earlier by the Singh brothers.
According to the ED, both the accused, along with others, transferred an amount of approximately Rs 1,000 crore to various persons from the entities linked to a corporate loan book and finally, it was siphoned off.
Religare has accused the five persons of diverting funds, claiming that loans were taken by Shivinder while managing the firm but the money was invested in other companies, the ED said. The ED had started its investigation in the matter on the basis of a case lodged by the Delhi Police.
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