The EOW had been on the lookout for Malvinder Singh, following Thursday’s arrests. The Singh brothers were promoters of financial firm Religare Enterprises and hospital operator Fortis Healthcare till last year. Godhwani was the chairman and managing director of Religare Enterprises till 2016. In December, Religare Enterprises and its subsidiary made another complaint to the corporate affairs ministry alleging misappropriation of funds worth ₹2,230 crore of the company and its units. The complaint also alleged that illegal issuances and redemption of preference shares led to undue gains of approximately ₹290 crore to promoter groups.

Source: Mint October 11, 2019 03:39 UTC