NEW DELHI: The ongoing spat between billionaire brothers, Malvinder Singh and Shivinder Singh, who once together ran Fortis Healthcare and Ranbaxy Laboratories, has taken a sharp twist after a complaint before Delhi Police has directly named Radha Soami Satsang Beas Gurinder Singh Dhillon known as Babaji for illegally benefitting, conspiring and diverting funds more than Rs 1000 crores from Religare.
The New Indian has accessed all relevant documents related to this complaint at a time when Burman family, the promoter of Dabur — India’s leading consumer goods company, has mysteriously made an open offer in public to raise its stake to 26 % in Religare. Dabur family already has a holding of 21.5 % in Religare Enterprises Limited.
The open offer would bring fresh consideration of Rs 2,116 crore.
These sensational charges, asking the police to probe the Dera head, have been made in two different plaints, one submitted by Religare’s current management and second by Malvinder himself.
“Pursuant to being appointed, the new professional board and management has realised that REL and its subsidiaries were in terrible financial condition and it sought to ascertain the reasons for the same. Through internal enquiries conducted….the new management found that there was widespread illegal siphoning of funds from REL and its subsidiaries…..” the complaint by Religare, on October 6, before Delhi Police reads.
“Role of Gurinder Singh Dhillon, Alok Rai Rajpur, and Yuraj Narain Gorwaney, needs to be investigated who conspired and illegally benefitted by causing wrongful cause of RFL by executing deed of Asola Land, already mortgaged with RFL”.
In the same complaint, the Religare company’s vice president Manpreet Singh Suri, has also sought probe against Shivinder’s wife Aditi for allegedly paying illegal gratification of Rs 200 crore to jailed conman Sukesh Chandrasekhar to “bribe public servants for obtaining bail of her husband from the judicial custody”.
Supreme Court had last year jailed both Malwinder and Shivinder while Malwinder had this year in June secured a bail.
In a separate complaint, Malvinder too had told Delhi Police, that he requested the Dera baba to settle the loans extended by Religare or its subsidiaries to Gurinder Dhilllon and his family members including his son as the total outstanding of Religare had reached up to Rs 5,400 crores.
The complaint also said that six firms, as subsidiaries of Religare, were used by Shivinder to aid Gurinder in Punjab’s Beas, and his associates in achieving his goal.
These six companies are Best Healthcare Private Ltd, Modland Wears Private Ltd, Fern Healthcare Private Ltd, Devera Developers Pvt Ltd, Green Line Buildwell Pvt Ltd, and Adept Lifespaces Pvt Ltd and acquired these firms without proper due diligence.
The deposits made from these companies were as follows. Modland was used to divert Rs 223 crore, Devera gave Rs 122.6 crore, Fern Healthcare handed over Rs 292.5, Best health care deposited Rs 207, Adept and Rosestar gave Rs 152.8 and Rs 8 crore to Dera baba’s family members: Gurinder Dhillon (himself), Gurkirat, Gurpreet Dhillon, Shabnam Dhillon ( Dera baba’s wife).
“Shivinder frequently shuttled between the Radha Soami Satsang headquarters in Beas and Delhi in the period leading up to December 2017. He was deeply involved in senior-level affairs. The accused plotted a cunning scheme to divert RHC’s funds and absorb Gurinder Singh Dhillon’s debts and dues, leaving RHC with liabilities and stripping it of all assets, transferring them to Gurinder Singh Dhillon,” the complaint has said.
The complaint recalls Dera Beas’s entry into Religare group through Gurinder’s relative, Sunil Godhwani.
According to Malvinder’s complaint, Sunil and Gurinder were helping the company grow, but they were allegedly conspiring to deceive him and the firm.
The complaint further alleges that in December 2017, Shivinder, while misusing his position in RHC, concealed the precarious financial status of the six companies whose money were allegedly transferred into Radha Soami family members.
Later, Malvinder discovered only through an auditor appointed to audit the accounts of these six firms that they were burdened with debt, his submission before Delhi Police has said.
In fact, the Complainant (Malvinder) believes that, in his ambition to become the next spiritual leader of the Radha Soami Satsang Beas, Shivinder unilaterally signed a purported ‘family settlement’ with Gurinder Singh Dhillon, absolving Gurinder of any wrongdoing and agreeing that no liabilities, legal proceedings, or criminal charges would be attributed to Gurinder under any circumstances,” the complaint reads.
Delhi Police Special CP EOW, Shalini Singh, did not comment on the investigation.
Malwinder confirmed that the police was probing the matter.