Business

Court extends custody of Malvinder and Shivinder Singh to 14 more days in Religare Finvest fund scam

Updated : October 17, 2019 01:51 PM IST

A district court in Delhi has extended the judicial custody of former Fortis Healthcare promoters Malvinder Singh and Shivinder Singh to 14 more days in the Religare Finvest fraud case. The Singh brothers will stay in the police custody till October 31.

Malvinder and Shivinder, along with three others, were arrested by the Economic Offences Wing of Delhi Police for allegedly misappropriating funds of Religare Finvest Ltd (RFL) and causing it losses of Rs 2,397 crore.

Malvinder was arrested on last Friday, while Shivinder, Sunil Godhwani, the former chairman and managing director of Religare Enterprises, Kavi Arora and Anil Saxena, who occupied important positions in REL and RFL, were arrested on last Thursday for allegedly diverting money and investing in other companies.

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