The Supreme Court on Friday adjourned for two weeks hearing on Enforcement Directorate's plea against the bail granted to former Fortis Healthcare promoter Shivinder Mohan Singh in the Religare Finvest money laundering case.
A bench headed by Justice Arun Mishra adjourned the matter for two weeks after Singh's counsel sought adjournment in the case. Last week, the bench had issued notice to Singh and ordered status quo on his release.
Despite the Delhi High Court's order, Singh has not been released from custody as he has not secured bail in another case lodged against him by the Delhi Police.
The High Court had on July 23 granted bail to Singh in the money laundering case related to alleged misappropriation of funds at Religare Finvest Limited (RFL).
The bail was granted on the subject to certain conditions like furnishing of a personal bond of Rs 1 crore and two sureties of Rs 25 lakhs each. Singh was also asked to not contact or engage with any of the officials of the financial institutions or banks that are involved in the case.
In its plea, the economic offences watchdog has contended about the gravity of offence alleged against Singh while opposing the High Court's order of granting bail to him.
The economic offences watchdog had registered a money laundering case against Shivinder Mohan Singh, his brother Malvinder Singh and others based on an FIR registered by the Economic Offences Wing of the Delhi Police.
The FIR was lodged on a complaint by RFL which had accused the Singh brothers of siphoning off funds and diverting loans extended by RFL. The ED had arrested Shivinder Singh on December 12, 2019.
( With inputs from ANI )