Radha Soami Satsang Beas head accused of illegally diverting Rs 1,006 cr from Religare

New Delhi: In a startling turn of events, the ongoing feud between billionaire brothers, Malvinder Singh and Shivinder Singh, who previously held influential positions at Fortis Healthcare and Ranbaxy Laboratories, has taken a dramatic twist.

A formal complaint filed with the Delhi Police has directly implicated Gurinder Singh Dhillon, also known as Babaji, the spiritual leader of Radha Soami Satsang Beas, in a web of alleged illegal activities, conspiracy, and the unauthorised diversion of over Rs 1000 crores from financial conglomerate Religare.

These allegations have prompted a comprehensive investigation by the police and stem from two separate complaints, one filed by Religare and the other by Malvinder Singh himself. The complaint submitted by Religare on October 6 unveils a concerning picture: “Upon taking the reins, the new professional board and management uncovered the distressing financial state of REL and its subsidiaries, leading them to delve into the root causes. Internal inquiries unveiled a widespread and unauthorised drainage of funds from REL and its subsidiaries.”

At this juncture, The Millennium Post has secured access to vital documents related to this complaint.

This development occurs in parallel with the Burman family, esteemed promoters of Dabur, one of India’s foremost consumer goods giants, making a cryptic public offer to acquire Religare.

The complaint underscores the urgency of investigating the roles played by Gurinder Singh Dhillon, Alok Rai Rajpur, and Yuraj Narain Gorwaney, who are accused of conspiring and benefiting unlawfully at the expense of RFL through a transaction involving Asola Land, a property already mortgaged with RFL.

Within the same complaint, Religare’s Vice President, Manpreet Singh Suri, has also called for an inquiry into allegations against Shivinder’s wife, Aditi, involving an alleged illegal gratification of Rs 200 crore to the jailed crook Sukesh Chandrasekhar, aimed at influencing public servants for her husband’s release from judicial custody. Both Malvinder and Shivinder Singh were imprisoned by the Supreme Court last year. However, Malvinder secured his release in June this year.

In a separate complaint, Malvinder informs the Delhi Police of his attempt to seek resolution with Gurinder Dhillon, the spiritual leader of the Dera, regarding the outstanding loans extended by Religare and its subsidiaries to Gurinder Dhillon and his family members, amassing a staggering Rs 5,400 crores.

The complaint suggests that six companies, subsidiaries of Religare, were employed by Shivinder to assist Gurinder and his associates in their financial pursuits.

It has also been alleged that in December 2017, Shivinder, while exploiting his position in RHC, disguised the treacherous financial status of six companies. Subsequently, an auditor appointed to scrutinize the accounts of these six firms discovered that they were buried under a mountain of debt, having extended financial assistance to Gurinder, his family, or companies operated by them, totalling a staggering Rs 1006.3 crore.

The complainant (Malvinder), contends that Shivinder, driven by his aspiration to ascend as the future spiritual leader of the Radha Soami Satsang Beas, unilaterally executed a purported ‘family settlement.’

This settlement absolved Gurinder Singh Dhillon of any alleged wrongdoing and stipulated that Gurinder would be shielded from any liabilities, legal actions, or criminal charges.

Delhi Police Special CP EOW, Shalini Singh, refrained from providing comments on the ongoing investigation, maintaining a stance of official discretion.

Malvinder, however, has confirmed that the police are actively investigating

the matter.