New Delhi, Former promoters of pharmaceutical giant Ranbaxy, Shivinder Singh and his elder brother Malvinder Singh, have been arrested in a Rs 740 crore fraud case, sources said.
According to sources, Shivinder was arrested on Thursday evening while Malvinder was arrested late at night, after a lookout notice was issued against him.
The brothers have been accused by Religare Finvest of fraud and misappropriation involving around Rs 740 crore.
Former Religare CMD Sunil Godhwani and two others — Kavi Arora and Anil Saxena — were also arrested in the matter.
In December last year, Religare Finvest had filed complaint against Malvinder Singh and Shivinder Singh. In May, both were charged with cheating, fraud and misappropriation of funds.
In a statement post the arrests, the Economic Offence Wing (EOW) of Delhi Police said that Manpreet Singh Suri of Religare Finvest Ltd (RFL) had levelled allegations against the Singh brothers, among others...