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New Delhi:
The Delhi High Court 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 court docket that the ED has already filed its prosecution grievance within the case and due to this fact no function could be served by retaining his consumer 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 towards 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 Limited (RFL).
The directorate had advised the court docket that there’s sufficient proof to provoke proceedings towards the three accused beneath the fees of the Prevention of Money Laundering Act (PMLA). All the accused are present process judicial custody within the matter.
(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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