New Delhi, August 1
The Supreme Court has stayed the bail granted to former Fortis Healthcare promoter Shivinder Mohan Singh in a cash laundering case associated to alleged misappropriation of funds at Religare Finvest Ltd (RFL).
A Bench comprising justices Arun Mishra, BR Gavani and Krishna Murari on Friday handed the route on a plea moved by the Enforcement Directorate in opposition to a Delhi High Court judgement granting bail to Singh.
The apex court docket order got here after Solicitor General Tushar Mehta, showing for the ED, submitted that the excessive court docket didn’t think about the grounds raised by the company.
“Until further orders, status quo with respect to release from jail be maintained and impugned judgment (of HC) not to be treated as a precedent for any other case. Reply, if any, be filed in the meantime,” the apex court docket stated.
The excessive court docket on July 23 granted bail to Singh, saying it doesn’t understand any grave risk to the pursuits of the society or the general public at massive along with his launch.
One of the principle grounds raised by the ED’s particular public prosecutor Nitesh Rana earlier than the HC was that Singh smuggled and used a cell phone whereas in custody.
The excessive court docket had granted the bail on furnishing a private bond of Rs one crore and two sureties by members of the family of Rs 25 lakh every, whereas imposing varied different bail situations on him, together with that he shall not tamper with the proof or affect witnesses, straight or not directly.
The trial court docket had earlier denied bail to Singh within the matter, after which he approached the HC.
He was arrested within the cash laundering case by the Enforcement Directorate (ED) and within the fraud case by Economic Offence Wing of Delhi police on December 12 and October 10 final 12 months respectively. He has not been granted bail within the EOW’s case but.
The ED in January had filed a cost sheet in opposition to former Fortis Healthcare promoters Malvinder Mohan Singh and Shivinder Singh and others within the cash laundering case associated to alleged misappropriation of funds at RFL.
RFL is a gaggle agency of REL – Religare Enterprises Ltd – which was earlier promoted by Malvinder Singh and his brother Shivinder Singh.
The EOW registered an FIR in March final 12 months after it acquired a grievance from RFL’s Manpreet Suri in opposition to Shivinder, Malvinder, Godhwani, former CEO of REL Kavi Arora and former CFO of RFL Anil Saxena and others, alleging that loans had been taken by them whereas managing the agency however the cash was invested in different firms.
The ED lodged a cash laundering case based mostly on this. PTI