Religare Enterprises (REL) has filed a complaint with the Economic Offences Wing of the Delhi Police against the erstwhile promoters, Malvinder and Shivinder Singh, for criminal actions under the Indian Penal Code (IPC) including cheating, criminal breach of trust, criminal misappropriation, and forgery with regard to issuance and redemption of preference shares of REL done between 2008-16.
The complaint has also named former Religare CEO Sunil Godhwani and investment companies of the Singh brothers, RHC Holding, Oscar Investments, RHC Finance and other associates. Religare had earlier filed an application in the Delhi High Court in the case between Daiichi Sankyo and Malvinder Singh for a stay on the redemption of 15 lakh non-convertible preference shares issued by the company.
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Religare has also filed a complaint with the ministry of corporate affairs seeking investigations into various suspicious transactions that took place when the Singh brothers were at the helm.
In addition, Religare said that it has also filed a complaint with the Delhi Police pertaining to the alleged issuance and redemption of preference shares during 2008-16. The financial impact would depend on the outcome of various ongoing investigations, the company said.
The complaint filed with the Economic Offences Wing alleges criminal actions under the IPC including offences of cheating, criminal breach of trust, criminal misappropriation, forgery, forgery for the purposes of cheating and criminal conspiracy.