Former Fortis Hospital owner arrested for fraud

Former Fortis Hospital owner arrested for fraud

Fortis Hospital Ex owner Malvinder Singh, was arrested by the Economic Offenses Wing (EOW) of the Delhi Police on Thursday from Ludhiana, Punjab while his brother Shivinder Singh was arrested from New Delhi earlier.

The Billionaire brothers had inherited the huge Ranabaxy empire, which has medicine factories to the biggest hospital chain of the country besides finance companies.

Hewas former Ranbaxy Laboratories CEO and chairman.  His brother Shivinder Singh, former promoterof Religare Enterprise was also arrested.

Hewill be brought to Delhi on transit remand by the EOW. Earlier in the day, alookout circular was issued against Malvinder Singh who was reportedlyabsconding, the police said.

MalvinderSingh has been arrested just hours after his brother and former promoter ofReligare Enterprises Shivinder Singh was held in connection with an allegedlymisappropriating funds of Religare Finvest Limited (RFL) to the tune of Rs2,397 crore. This is the fifth arrest in the defraud case of Rs 2,300 crorefraud case.

SunilGodhwani (58), the former Chairman and Managing Director of ReligareEnterprises Limited (REL), Kavi Arora (48) and Anil Saxena, who also occupied importantpositions in REL and RFL, were also arrested by the Economic Offences Wing(EOW) of Delhi Police for allegedly diverting money and investing in othercompanies, they said.

Thefour were taken into custody after questioning, the police added.

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