The Economic Offences Wing (EOW) of Delhi Police has arrested a director of a private company for siphoning of public money to the tune of Rs 2,397 crores. The accused has been identified as Rajender Prasad Aggarwal, a resident of Delhi’s West Punjabi Bagh area, who was arrested by EOW on December 7.
According to OP Mishra, the Joint Commissioner of Police, EOW, Manpreet Singh Suri of Religare Finvest Ltd (RFL) filed complaint against Malvinder Mohan Singh, Shivinder Mohan Singh, Sunil Godhwani and others holding key managerial posts that the alleged persons having absolute control on Religare Enterprises Limited (REL) and its subsidiaries put Religare Finvest Limited (RFL) in poor financial condition by way of disbursing the loans to the companies having no financial standings.
“These companies willfully defaulted in repayments and caused wrongful loss to RFL to the tune of Rs 2397 Crores. This was also pointed out and flagged during their independent audit by RBI and SEBI. Maninder Singh was the Director and CEO of Religare Group during the year 2017and was part of larger criminal conspiracy with Malvinder Mohan Singh and Shivinder Mohan Singh, Promoters of Religare Group,” said the Joint CP.
“The accused Rajender was the shareholder and director of the companies identified as Tara Alloys Limited, Gurudev Financial Services and shareholder of Sridham Distributors and Annies Apparel where the amount to the tune of Rs 676 crores was diverted in the year 2016-17. He was part of larger criminal conspiracy with Malvinder Mohan Singh and Shivinder Mohan Singh, Promoters of Religare Group. He was involved with Stock Broker Narendra Kumar Ghoushal who has already been arrested,” said the Joint CP.