Delhi HC notice to ED on Religare promoter Shivinder Singh's bail plea in money laundering case
Jun 22, 2020
New Delhi [India], June 22 : The Delhi High Court on Monday issued notice to the Enforcement Directorate (ED) on a bail plea filed by Religare promoter Shivinder Mohan Singh in connection with a money laundering case.
A bench of Justice Anup Jairam Bhambhani asked the ED to file a status report on the bail plea and listed the matter for further hearing on July 2.
Senior advocate N Hariharan, appearing for Shivinder Mohan Singh, told the court that the ED has already filed its prosecution complaint in the case and therefore no purpose would be served by keeping his client in further custody.
Hariharan also told the court that the evidence in the case was documentary in nature, therefore asserting that the petitioner cannot influence the witnesses or tamper with evidence.
Justice Bhambhami asked the ED why the judicial custody of Singh is required, to which the economic offences watchdog's counsel advocate Amit Mahajan submitted that the money in this matter was diverted through a complex web of transactions and therefore finding the route of money trail was not easy.
Mahajan also apprehended that granting bail to Singh would hamper the probe in the matter.
The ED had, in January, filed chargesheet before a Delhi court against former Fortis Healthcare promoter Malvinder Mohan Singh, Shivinder Singh, and former CMD of Religare Enterprises Limited Sunil Godhwani in a money laundering case related to alleged misappropriation of funds at Religare Finvest Limited (RFL).
The directorate had told the court that there is enough evidence to initiate proceedings against the three accused under the charges of the Prevention of Money Laundering Act. The accused are undergoing judicial custody in the case.
