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Zwinder Singh Arrested: SEO Police Arrest Former Runbaks Promoter, Zwinder Singh, Three Others



NEW DELHI: The Delhi Police's Wing for Economic Offenses (EOO) on Thursday arrested former Runbaks lab promoter and co-founder of Fortis Health, Zwinder Singh, along with three others, following a complaint from Religare Enterprises Limited “. The company accused them of diverting funds in line with Rs 740.

The other three arrested include Kavi Arora, Anil Saxena and former CEO of Religare and chief executive Sunil Godahwani.

"The RFL noticed a change in management. When the new management took over, they found it was a loan, but the money was invested in other companies related to Singh and his brother. They appealed to EOW and subsequently the FIR was registered," said a senior police officer. .

Apparently, Zwinder also dragged his older brother Malvinder Singh and Godwani to court for "doing poorly" in family businesses.

In August this year

The Office of Enforcement (ED) raided
+
premises associated with the original promoters of Ranbaks, Malwinder and Zwinder, regarding the money laundering case.

Central agency officials said the raids were conducted following a case under the Anti-Money Laundering Act (PMLA).

The action was taken amid allegations of financial irregularities against the Singh brothers and the subsequent collapse of their business.

Zwinder's brother, Malwinder, is disappointed and a circular examination has been issued against him.

(With PTI inputs)


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