The Delhi High Court on Thursday reserved its order on the bail plea filed by Religare Finvest promoter Shivinder Mohan Singh in connection with a money laundering case.
A bench of Justice Anup Jairam Bhambh reserved the order on the bail plea after hearing the submission from both the sides in the matter. The Enforcement Directorate (ED) has opposed the Singh' bail plea.
Senior Advocate N Hariharan, appearing for Singh, told the court that the ED has already filed its prosecution complaint in the case and therefore no purpose would be served by keeping his client in further custody.
He also submitted that the evidence in the case was documentary in nature.
The counsel appearing for the economic offences watchdog submitted that granting bail to Singh would hamper the probe in the matter.
The ED had, in January, filed a chargesheet against Shivinder Mohan Singh, former Fortis Healthcare promoter Malvinder Mohan Singh and former Religare CMD Sunil Godhw in a money laundering case related to alleged misappropriation of funds at Religare Finvest Limited (RFL).
The directorate had told the court that there is enough evidence to initiate proceedings against the three accused under the charges of the Prevention of Money Laundering Act (PMLA). All the accused are undergoing judicial custody in the matter.
( With inputs from ANI )