The Delhi Police’s Economic Offenses Wing (EOW) has Sunil Godwani, the former managing director of the financial services company Religare Enterprises, as a beneficiary of 34 billion in its supplementary fee sheet Business line.
The total outstanding amount in the corporate loan book as of December 2020 is 2,967 billion. Godwani is also charged with the Laxmi Vilas Bank loan fraud in which Religare deposited nearly 900 crore with the bank, which the bank used to extend further loans to companies affiliated with Shivinder and Malvinder Singh former promoters of the Religare Group.
Malvinder, Shivinder, Godhwani, Kavi Arora and Anil Saxena were arrested by the Delhi Police’s EoW Economic Offenses Wing (EOW) in 2019 for allegedly diverting RFL’s money and investing it in other companies. An FIR was registered in March 2019 after Manpreet Suri police received a complaint from RFL against Malvinder, Shivinder and others alleging that they took out loans while managing the company but invested the money in other companies .
Money laundering
The ED has also filed a money laundering lawsuit on this basis. The Serious Fraud Office had issued a warning after an investigation that Godwani should leave for overseas. In 2019, Godwani was arrested at Delhi Airport before he could leave for London. Godhwani was released from the Sessions Court in Delhi on September 25, 2020 on bail for three weeks.
The provisional deposit has been extended by 10 days to October 15, 2020. Godwani was due to surrender on October 26, but did not, according to sources involved in the matter. In its December 4, 2020 order, the Sessions Court ordered Godwani to surrender within two days and this was challenged by Godwani and the arrest was suspended by the December 5, 2020 High Court Vide order.
An FIR has been registered with the EOW and a criminal complaint was filed on December 19, 2018. Godwani could not be reached on his cell phone.
