New Delhi, Sep 3 The Delhi Police's Economic Offences Wing (EOW) has issued notice to the Radha Soami Satsang Beas head, Gurinder Singh Dhillon, directing him to join investigations in the Rs 2,000-plus crore financial scam relating to siphoning of funds from Religare Finvest Ltd (a 100 per cent subsidiary of Religare Enterprises Ltd).
The notice was issued after a First Information Report (FIR) was registered on a complaint filed by Religare Finvest Ltd.
In an affidavit recently filed before the Delhi High Court, Malvinder Mohan Singh, the former promoter of Religare Enterprises Ltd, accused the Radha Soami Satsang Beas head of siphoning off proceeds through a web of shell entities created for this purpose.
In the said affidavit, Malvinder Singh wrote: "The monies received was camouflaged by Dhillon and his family members to appear as if they were clearing their debt towards (the) answering respondent and its subsidiaries with a view to window dress and attempt to show that there is no amount receivable from Dhillon and members of his family
to the answering respondent."
Malvinder Singh, who is under trial for siphoning off funds from the company, accused the Radha Soami Satsang Beas head and his family member of misappropriating funds to the tune of Rs 1,472.72 crore.
The EOW investigated the allegations levelled in the Religare FIR as well as the allegations made by Malvinder Singh in his affidavit, and deemed it fit to call Dhillon and his two sons to join the investigation.
In the FIR, Religare Finvest said: "The facts mentioned (below) disclose a well thought-out and organised criminal conspiracy by which a financial scam of huge magnitude has been effected by the accused persons, namely the promoters of Religare Enterprises, including Mr Malvinder Mohan Singh and Mr Shivinder Mohan Singh, directors and officers associated with the promoters, and Mr Sunil Godhwani, who held key managerial positions at REL from time to time..."
"The properties of the complainant company, which have been siphoned away through a labyrinth of financial transactions, may kindly be traced and restituted to the complainant company," the FIR said. It further stated that over a period of 10 years, 115 entities were funded and the total amount (funded) was Rs 47,968 crore.
Religare is now seeking immediate recovery of the said funds and action against the perpetrators of the scam.
( With inputs from IANS )
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