Delhi police arrests ex- Ranbaxy promoter Malvinder Singh, hours after brother Shivinder’s arrest

In a late night chase on Thursday, the economic offences wing (EOW) of the Delhi police arrested former co-promoter of Religare Enterprises, Malvinder Singh in Punjab’s Ludhiana for allegedly causing wrongful loss to Religare Finvest Ltd, an official said.

Malvinder’s detention came hours after his younger brother Shivinder Singh was arrested in the same case.

Shivinder was arrested along with three others – Sunil Godhwani, Kavi Arora and Anil Saxena.

After Shivinder’ arrest, a lookout notice was issued against Malvinder and later he was nabbed by Delhi police in Punjab.

In December 2018, Religare Finvest Limited (RFL) had filed a complaint with the Economic Offences Wing of the Delhi Police against Singh brothers.

Religare has accused them of diverting public funds alleging that loans were taken by Singh while managing that firm, but the money was invested in other companies.

The Singh brothers were raided by the Enforcement Directorate (ED) in August this year in connection with money laundering case.