Ex-Ranbaxy promoters Malvinder and Shivinder Singh arrested in Ludhian

Former Fortis promoters Shivinder Mohan Singh and his elder brother Malvinder Mohan Singh were arrested from Ludhiana by Delhi police in a case of fraud along with three others on Thursday.

The accused, including the  Singh brothers, who are also ex-promoters of Ranbaxy, allegedly caused a loss of Rs 2,390 crore to Religare Finvest, said officials.

While Shivinder, 44, along with his alleged accomplices Kavi Arora, 48, Sunil Godwani, 58, and Anil Saxena, 51, was arrested during the day, Malvinder was arrested late in the night by a team of economic offences wing of Delhi Police from Ludhiana.

“We are getting him to Delhi,” a senior police official was quoted as saying by Mint.

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