SC adjourns bail plea of ex-Fortis Healthcare promoter for Nov 11

The Supreme Court on Tuesday adjourned the bail plea of former Fortis Healthcare promoter Shivinder Mohan Singh, accused of misappropriating about Rs 2,400 crore of Religare Finvest Ltd funds, for November 11.

A Bench of Chief Justice NV Ramana and Justices Surya Kant and Hima Kohli adjourned the hearing after Delhi Police sought adjournment.

Earlier, the apex court was apprised by the Delhi Police Economic Offences Wing that it requires four more months to complete the probe in the case.

The top court had asked the Delhi police about how much time it will take to complete the investigation and it cannot be an "unending story".

Singh, in the apex court, challenged the June 14 order of the Delhi High Court which cancelled his bail granted by the trial court in a money laundering case.

Justice Suresh Kait of the High Court had said that the Singh's detention was necessary to unearth the "conspiracy hatched by him and trace the siphoned off money".

The High Court order had come on the plea of RFL challenging the March 3 order of the trial court granting bail to Singh in the case registered against him by the Economic Offences Wing (EOW) for cheating, criminal conspiracy and criminal breach of trust.

In March 2019, the EOW of Delhi Police registered an FIR after it received a complaint from RFL's Manpreet Suri against Singh, former CMD of Religare Enterprises Limited (REL) Sunil Godhwani and former CEO of RFL Kavi Arora and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies.

RFL's authorised representative Suri alleged that these accused put RFL in poor financial condition by disbursing loans to entities having no financial standings and willfully defaulted on repayments causing a loss of Rs 2,397 crore to RFL, as per EOW.

( With inputs from ANI )