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Delhi Court Sends Director of Shell Companies to One Day Police Custody in Rs 2,397 Cr RFL Money Laundering Case

Representational Image

Representational Image

Metropolitan Magistrate Chhavi Bansal allowed custodial interrogation of Rajender Prasad Aggarwal, shareholder and Director of the companies M/s Tara Alloys Limited and M/s Gurudev Financial Services and shareholder of Sridham Distributors Pvt Limited and Annies Apparel Pvt Limited.

A Delhi court Tuesday sent a person, who is director of some shell companies, to one day police custody in a case related to alleged siphoning of Rs 2,397 crore from group firm Religare Finvest Ltd (RFL). Metropolitan Magistrate Chhavi Bansal allowed custodial interrogation of Rajender Prasad Aggarwal, shareholder and Director of the companies M/s Tara Alloys Limited and M/s Gurudev Financial Services and shareholder of Sridham Distributors Pvt Limited and Annies Apparel Pvt Limited.

The police had sought his custody for four days, saying Aggarwal was allegedly the director and promoter of shell entities through which money was routed for misappropriation of public money and his remand was required for further investigation in the matter. According to the police, the companies were allegedly shell companies through which funds amounting to Rs 676 crores were diverted in 2016-17.

Police had alleged that Aggarwal was allegedly a part of the larger conspiracy in the case, along with former Fortis Healthcare promoters Malvinder Singh and his brother Shivinder. Police further alleged that Aggarwal in conspiracy with co-accused Narender Kumar Ghoushal further routed and re-routed the amount received in his companies to sham entities resulting in pecuniary benefit to the promoters of Religare Group Malvinder and Shivinder.

Malvinder, Shivinder, former CMD of Religare Enterprises Ltd (REL) Sunil Godhwani, Kavi Arora and Anil Saxena were arrested in the case by the Economic Offences Wing (EOW) of Delhi Police last year, for allegedly diverting RFL's money and investing in other companies.The EOW registered an FIR in March last year after it received a complaint from RFL's Manpreet Suri against Shivinder, Godhwani and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies. ED lodged a money laundering case based on this.

first published:December 08, 2020, 22:43 IST