The Delhi Excessive Courtroom on Thursday reserved its order on the bail plea filed by Religare Finvest promoter Shivinder Mohan Singh in reference to a cash laundering case.
A bench of Justice Anup Jairam Bhambhani reserved the order on the bail plea after listening to the submission from each the edges within the matter. The Enforcement Directorate (ED) has opposed the Singh’ bail plea.
Senior Advocate N Hariharan, showing for Singh, advised the courtroom that the ED has already filed its prosecution criticism within the case and subsequently no goal could be served by preserving his shopper in additional custody.
He additionally submitted that the proof within the case was documentary in nature.
The counsel showing for the financial offences watchdog submitted that granting bail to Singh would hamper the probe within the matter.
The ED had, in January, filed a chargesheet in opposition to Shivinder Mohan Singh, former Fortis Healthcare promoter Malvinder Mohan Singh and former Religare CMD Sunil Godhwani in a cash laundering case associated to alleged misappropriation of funds at Religare Finvest Restricted (RFL).
The directorate had advised the courtroom that there’s sufficient proof to provoke proceedings in opposition to the three accused below the fees of the Prevention of Cash Laundering Act (PMLA). All of the accused are present process judicial custody within the matter.
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