Shivinder Singh and his elder brother Malvinder Mohan Singh were arrested in connection with an alleged fraud case involving misappropriation of funds of Religare Finvest Ltd (RFL), causing it losses worth Rs 2,397 crore.
The arrest came two months after the Enforcement Directorate (ED) carried out searches at the homes of the brothers after revelations from the Mauritius Leaks on their offshore holdings were described as “corroborative evidence” for the investigating agency.
On March 14, the Supreme Court had asked former Ranbaxy promoters Malvinder Singh and Shivinder Singh to apprise it how they propose to comply with the Rs 3,500 crore arbitral award passed against them by a Singapore tribunal.
After the brief Q and A session, the Ethiopian mourners filed silently out of the room and slowly boarded the convoy of eight Ethiopian Airlines buses. The mourners looked like travelers themselves. Except they carried no luggage, only items to honour the dead in their final resting place.