Ranbaxy's ex-promoters Shivinder Singh, Malvinder Singh booked under fraud cases
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The ex-promoters of pharmaceutical giant Ranbaxy, Shivinder Singh and his elder brother Malvinder Singh have been arrested by the Enforcement Directorate in a Rs.740 crore fraud case. The two brothers were accused of fraud and misappropriation of funds to the tune of Rs. 740 crore by Religare Finvest. 2 places were raided in Delhi including Malvinder's home and a case was filed under the Prevention of Money Laundering Act.