Siphoning of RFL funds: SC asks police to conclude probe against Shivinder by Dec 15
The Supreme Court Thursday asked Delhi Police to conclude the probe by December 15 in a case against former Fortis Healthcare promoter Shivinder Mohan Singh who along with others is accused of misappropriating Rs 2,397 crore of Religare Finvest Ltd (RFL) funds.
A bench headed by Chief Justice N V Ramana asked Additional Solicitor General KM Nataraj, appearing for the Economic Offence Wing (EOW) of Delhi Police, to conclude the probe within the stipulated period.
At the outset, Additional Solicitor General KM Natraj, appearing for Delhi Police, said the investigation is at an advanced stage and sought time by the end of this month to complete the probe.
The top court, however, said it would not give that much time and take up the matter on December 15.
''We kept the matter pending. Again you want time. One thing you have to remember, you should not take sides. You need to carry out a fair investigation. We are not bothered by who has taken the money. In criminal offenses, investigating agencies have to be neutral. That's what we want.
''We're not going to give much time to complete. We are listing the matter for December 15,'' said the bench, also comprising Justices A S Bopanna and Hima Kohli.
Senior advocate R Basant, appearing for complainant Manpreet Suri of RFL, said 200 crores have been paid to silence witnesses and it will be dangerous to release the petitioner.
The bench said, ''You want to file proceedings to settle scores. We don't allow that. If they want to book FIR let them book we have nothing to do with that.'' The top court further said, ''We are not going to look into those things. It's a case for bail, we'll decide whether to grant bail or not. Don't enlarge the scope of this matter. This is a simple case for bail.'' Senior advocate Siddharth Luthra, appearing for Singh, said the apex court had granted further time to conclude the probe now they are again seeking more time.
The bench then posted the matter for hearing on December 15.
In May, the Delhi High Court canceled Singh's bail, noting that his detention was necessary to unearth the conspiracy hatched by him'' and trace the alleged siphoned-off money.
The EOW recently said that it would need four more months to complete the probe in the fund embezzlement case.
''How much time should it take to complete the investigation? It cannot be an unending story,'' the bench had observed while asking the police to give a timeline for concluding the probe.
The counsel for Singh had said that he has been in jail for the last two years and his custody is not needed for the investigation as two charge sheets have already been filed.
The high court order, canceling the bail, was passed on a plea by Religare challenging the March 3 order of the trial court granting bail to Singh in the case registered against him by the EOW under charges of cheating, criminal conspiracy, and criminal breach of trust.
Singh has moved the top court against the Delhi High Court canceling the bail granted to him by the trial court in the case.
The EOW registered an FIR in March 2019 after a complaint from Suri against Shivinder, former CMD of Religare Enterprises Limited (REL), Sunil Godhwani and former CEO of RFL Kavi Arora and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies.
According to the prosecution, RFL's authorized representative Suri alleged that these accused put RFL in poor financial condition by disbursing loans to entities having no financial standing and wilfully defaulting on repayments, causing it a loss of Rs 2,397 crore.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)