Delhi Police Arrests Former Religare CEO In ₹ 2,400 Crore RFL Scam Case

Friday, 10 December 2021Newsdesk

The Economic Offences Wing of Delhi Police has arrested a former Group CEO of Religare Enterprises Limited in connection with siphoning off public money of nearly ₹ 2,400 crore, officials said. The accused has been identified as Krishnan Subramanian, a resident of Rohini in north west Delhi, they said.

New Delhi, 10 December2021

As per news report of NDTV, According to police, Manpreet Singh Suri, AR of Religare Finvest Ltd (RFL), filed a complaint against Malvinder Mohan Singh, Shivinder Mohan Singh, Sunil Godhwani and others holding key managerial posts, alleging that these people having absolute control on Religare Enterprises Limited (REL) and its subsidiaries put RFL in poor financial condition by way of disbursing loans to companies having no financial standings. These companies willfully defaulted in repayments and caused wrongful loss to RFL to the tune of ₹ 2,397 crore. This was also pointed out and flagged during their independent audit by RBI and SEBI, police said.

Source - NDTV