MALVINDER MOHAN SINGH Vs. STATE

JUDGEMENT

(1.) Crl.M.A. 6440/2020

(2.) As per averments in the FIR No.50/2019, PS EOW, Mandir Marg, the petitioner along with Mr. Shivinder Mohan Singh as being the promoter of M/s Religare Enterprises Limited (hereinafter referred as REL) is alleged to have played a significant role in the management and conduct of affairs of Religare Finvest Limited (hereinafter referred as RFL) a subsidiary of REL, a public company listed on stock exchanges and licensed by the Reserve Bank of India to undertake the business of financial services as a non-deposit taking/ lending Non-Banking Financial Company (NBFC) which operated as a small and medium enterprise (SME) financing focussed NBFC and was in the business of extending SME working capital loans, secure SME business expansion loans, short term trade finance and other loans to various entities with it being submitted that the RFL is classified as a systematically important NBFC by the RBI.

(3.) The petitioner herein along with Mr. Shivinder Mohan Singh allegedly in conspiracy with Mr. Sunil Godhwani, Executive Director of RFL is alleged to have forged documents to secure high value purported loans to shell companies and related known entities of the petitioner and of Mr. Shivinder Mohan Singh and such loans were given by RFL on the sole and express basis that these entities were known to the petitioner and Mr. Shivinder Mohan Singh and thus pursuant to instructions received from the petitioner and Mr. Shivinder Mohan Singh or Mr. Sunil Godhwani, an alleged co-conspirator their agents/ nominees/ associates, sums to the tune of hundreds of crores were allegedly disbursed by the RFL at very short notice and at times without adequate documentation for the same and it is alleged that in many such instances, the documentation was created only subsequently and antedated and thus forged.