The Enforcement Directorate (ED) concluded its searches in a money laundering investigation related to the alleged misappropriation of funds exceeding Rs 2,000 crore from Religare Finvest Limited (RFL), sources stated on Saturday. The agency initiated the raids on Friday, conducting searches at nine locations in Delhi-NCR, including the corporate offices of RFL, M3M India Holdings, RHC Holding Pvt Ltd, Hillgrow Infrastructure Pvt Ltd, Dion Global Solutions, and Prius Commercial. The searches, which concluded on Saturday, resulted in the seizure of “incriminating” documents, including digital evidence, pointing towards large-scale proceeds of crime generated from criminal activities.
The ED’s money laundering case originated from a Delhi Police Economic Offences Wing (EOW) FIR, leading to the arrest of ex-Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, along with Sunil Godhwani, the CMD of Religare Enterprises Ltd. The seized evidence is expected to play a crucial role in furthering the investigation into the alleged diversion of funds and financial irregularities involving prominent entities.
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