According to Dr. O. P. Mishra , Addl. Commissioner of Police, Economic Offences Wing, New Delhi. A team led by Ms. Varsha Sharma, DCP/EOW consisting of ACP Amar Deep Sehgal, Insp. Sanjeev Dhodi, Insp. Umesh Sharma, Insp. Nitin Kumar, SI ParveenBadsara, ASI Jai Pal, Ct. Lalit and Ct. Vipin formally arrested following persons in Case FIR No. 50/19 dt 27.03.19 U/s 409/420/120-B IPC PS EOW, Delhi on 10th October 2019:-
1. Shivinder Mohan Singh s/o Dr. Parvinder Singh, age 44 years, R/o C-110, South Extn., Part-II, New Delhi-49.
2. Sh. Sunil Godhwani S/o Sh. Narain Das Godhwani, age 58 years, A-2, Inayat Farm, PO Fatehpur, Beri, Asola, New Delhi-74.
3. Kavi Arora S/o Sh. Kamal Arora, age 48 years, R/o 356, Espace Nirvana, Sector-50, Gurugaon-122018.
4. Anil Saxena S/o Late Sh. Tej Bahadur Saxena, age 51 years, R/o 4222, ATS One Hamlet, Sector-104, Noida, UP.
In the complaint the allegations have been leveled by MrManpreet Singh Suri of Religare Finvest Ltd (RFL) against Malvinder Mohan Singh, Shivinder Mohan Singh, Sunil Godhwani and others. The alleged persons having absolute control on Religare Enterprises Limited (REL) and its subsidiaries put Religare Finvest Limited (RFL) in poor ﬁnancial condition by way of disbursing the loans to the companies having no financial standing and controlled by the alleged persons. These companies willfully defaulted in repayments and caused wrongful loss to RFL to the tune of Rs. 2397 Crs. This was also pointed out and flagged during their independent audited by RBI and SEBI.
The accused Shivinder Mohan Singh was the promoter of Religare Enterprises Ltd. which is the listed company having 85% share holding of RFL, while accused Sunil Godhwani, remained Chairman/Managing Director of the Religare Enterprises Limited during the relevant period. Kavi Arora and Anil Saxena also occupied important managerial positions in REL and RFL during the same time.
The alleged persons systematically siphoned off and diverted money of general public in a clandestine manner for their own beneﬁt.