Companies

Former Fortis promoter Shivinder Singh arrested in fraud case

PTI New Delhi | Updated on October 10, 2019 Published on October 10, 2019

Shivinder Singh. File Photo   -  The Hindu

A lookout notice issued against Malvinder Singh

The Delhi Police on Thursday arrested former Fortis Healthcare promoter Shivinder Singh and three others in an alleged fraud case, officials said. Kavi Arora, Sunil Godhwani and Anil Saxena were also arrested by the Economic Offence Wing of Delhi Police for allegedly diverting public money and investing in other companies, they said.

A complaint was filed by Religare Finvest Limited (RFL) alleging that loans were taken by Singh while managing that firm but the money was invested in other companies.

“RFL saw a change in management. When the new management took over, they found that a loan had been taken but the money been invested in other companies linked to Singh and his brother. They filed a complaint with the EOW and subsequently, an FIR was registered,” said a senior police officer.

Shivinder’s brother Malvinder is absconding and a look out circular has been issued against him.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 10, 2019
This article is closed for comments.
Please Email the Editor