The Enforcement Directorate (ED) has wrapped up its searches in a money laundering investigation related to the alleged diversion of funds worth over Rs 2,000 crore from Religare Finvest Limited (RFL). The raids were conducted at various locations in Delhi-NCR, including the corporate offices of RFL and other companies. The ED has seized incriminating documents and digital evidence during the searches, identifying significant proceeds of crime. This case is linked to a Delhi Police Economic Offences Wing (EOW) FIR and has already resulted in the arrest of several individuals.
1. The Details of the Investigation
The ED initiated searches in connection with a money laundering probe involving the alleged diversion of funds from RFL. The raids were conducted at nine locations in Delhi-NCR, targeting the corporate offices of RFL, M3M India Holdings, RHC Holding Pvt Ltd, Hillgrow Infrastructure Pvt Ltd, Dion Global Solutions, and Prius commercial. The agency wrapped up the searches on Saturday, seizing crucial documents and digital evidence.
2. Incriminating Evidence Uncovered
During the searches, the ED unearthed incriminating documents and digital evidence that shed light on the alleged money laundering activities. The agency has identified a significant amount of proceeds generated from criminal activities. The evidence collected will be crucial in building a strong case against the accused individuals.
3. Key Players Involved
The ED’s investigation into the RFL case has already resulted in the arrest of ex-Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, along with the CMD of Religare Enterprises Ltd., Sunil Godhwani. These individuals are allegedly connected to the diversion of funds from RFL. The ED’s money laundering case is based on an FIR filed by the Delhi Police Economic Offences Wing (EOW).
4. Conclusion of the Raids
After conducting extensive searches at various locations, the ED concluded its raids on Saturday. The agency’s focus was to gather essential evidence related to the alleged money laundering and diversion of funds from RFL. The seized documents and digital data will now be thoroughly examined to strengthen the case against the accused.
5. FAQs
Q1: What led to the initiation of the ED’s raids in the RFL case?
A1: The ED launched the raids based on an FIR filed by the Delhi Police Economic Offences Wing (EOW) regarding the alleged diversion of funds from RFL.
Q2: Who has been arrested so far in connection with the RFL case?
A2: Ex-Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, along with Religare Enterprises Ltd.’s CMD Sunil Godhwani, have been arrested.
Q3: What evidence was seized during the raids?
A3: The ED seized incriminating documents and digital evidence related to the alleged money laundering activities and the proceeds of crime.
Q4: What is the significance of the RFL case?
A4: The RFL case highlights the alleged diversion of funds and money laundering activities, leading to the arrest of influential individuals in the financial sector.
Q5: What happens next in the investigation?
A5: The seized documents and digital data will be thoroughly examined to strengthen the ED’s case, and further legal proceedings will take place.