Radha Soami Satsang Beas chief summoned by EoW of the Delhi Police

Businessman Malvinder Singh had earlier filed a complaint against the spiritual guru Gurinder Singh Dhillon, and his family members, with EOW for allegedly siphoning off proceeds from the sale of Ranbaxy Laboratories.

Agencies
The Dhillons are among 55 individuals and entities ordered by the court to pay over Rs 6000 crore owed to RHC holding in connection with the settlement of a dispute to Daiichi Sankyo’s acquisition of Ranbaxy laboratories.
The Economic Offences Wing (EoW) of the Delhi Police has sought details from the head of Radha Soami Satsang Beas Gurinder Singh Dhillon and his family members regarding the multi crore scam.

Businessman Malvinder Singh had earlier filed a complaint against the spiritual guru Gurinder Singh Dhillon, and his family members, with EOW for allegedly siphoning off proceeds from the sale of Ranbaxy Laboratories Ltd.

He had also filed an affidavit last month in the court detailing transaction history of the loans transferred to the Dhillon family from 2006 onwards, along with the supporting Bank Statement showing such transactions.

The summons were issued by the EoW basis a FIR filed by the Religare Finvest.

The EoW in its summons dated Aug 26 has asked Dhillon to explain why the amount was transferred to him and his wife’s personal account from various entities. Dhillon has been asked to provide documents to show how these transactions in his income tax returns. “It was a loan transaction or otherwise,” the notice said.

“For the purposes of investigation, you are requested to provide documents,” it further said. Information has been sought regarding over Rs 26 crore which were transferred to him and his wife Shabnam Dhillon. Dhillons have been told to furnish details by September 7. An email sent to Dhillon did not elicit any response till the press time.

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The Dhillons are among 55 individuals and entities ordered by the court to pay over Rs 6000 crore owed to RHC holding in connection with the settlement of a dispute to Daiichi Sankyo’s acquisition of Ranbaxy laboratories.

Earlier in the High Court, Dhillon had said that in 2010, RHC holdings Ltd through Singh brothers had approached him to assist them in subscribing for the rights issue, suggesting that they would finance Dhillons to subscribe to the rights issue. Dhillon has said that it was agreed that he and his family members would not be made liable to repay any amount or interest. “It was also agreed that upon the shares being sold or disposed of if the price realised was below the subscribed price, then the entire amount would be shared 50:50 between RHC and Dhillons family who had subscribed to the shares”.

He had further said that on the basis of “verbal agreement” in February 2010, RHC transferred Rs 219 crore each to his sons, which was then used to subscribe to the rights issue, resulting in an allotment of 61,83,013 shares of REL to each of his sons.

In a separate notice to his sons Gurpreet and Gurkirat Dhillon, the EoW has now asked both Gurpreet and Gurkirat to clarify how the transaction “was reflected in their income tax returns, whether the amount is loan from the RHC holding pvt Ltd or otherwise and what is the present status of these shares,” it said. ET has seen the copy of the notices.

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The EoW has also asked the Dhillon brothers to explain the reason for transferring the money from their personal account to RHC holding. Both brothers have been asked to appear in person and file the reply by September 7.

In an affidavit filed in the Delhi High court last week, Singh had submitted that Dhillon and his family members owed Rs 1472.72 crores along with interest which is still outstanding.

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He has further said that over the period of 2006-2010, a sum of over Rs 500 crores was directly transferred from his accounts to Dhillon and his family members.

In addition, between 2011-2016 approximately Rs 488.83 crores were advanced as loans to Dhillon and his family members from the companies of Best group, which at the time of advancement of loans were not subsidiaries of Singh. The Best group comprised of Best healthcare Pvt Ltd, Modland wears private Ltd, Fern healthcare private Ltd, Devera developers private Ltd, greenline buildwell Private Ltd and Adept Lifespace pvt Ltd.

“The monies received from the Best group was camouflaged by Dhillon and his family members to appear as if they were clearing their debt towards answering respondent and its subsidiaries with a view to window dress and attempt to show that there is no amount receivable from Dhillon and members of his family to the answering respondent,” the affidavit has said. ET has seen the copy of the affidavit.
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