Former Ranbaxy promoter Shivinder Singh arrested by Delhi Police in Fraud case

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The Delhi Police on Thursday arrested former promoter of Ranbaxy pharmaceuticals Shivinder Singh in connection with a fraud case of around Rs 740 crore.

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.

A look-out notice has been issued for Shivinder’s brother Malvinder Singh who is at present absconding.