The delhi Police on Fri arrested former Fortis aid promoter Malvinder Singh for allegedly misappropriating funds of Religare Finvest limited (RFL) and causing losses to the tune of Rs a pair of,397 crore, officers same.
Malvinder’s brother Shivinder Mohan Singh, Sunil Godhwani (58), the previous chairman and director of Religare Enterprises restricted (REL), Kavi Arora (48) and Anil Saxena, who occupied vital positions in REL and RFL, were also arrested earlier by the Economic Offences Wing (EOW) of delhi Police for allegedly diverting money and finance in other companies, they said.
RFL may be a subsidiary of the REL. Shivinder and his elder brother Malvinder were earlier the promoters of REL.
The police had same that a lookout circular ad been issued against Malvinder as he was absconding.
He was detained on the intervening night of Thursday and Fri in Ludhiana and was formally arrested on Fri morning when he was brought here by a team of the Economic Offences Wing, additional Commissioner of Police (EOW) O P Mishra same.