Religare, Fortis’ Singh brothers accused of siphoning money in fresh lawsuit

Billionaire brothers Malvinder Singh and Shivinder Singh are being accused of “diversion, siphoning and digression of assets” by a New York-based investor in a lawsuit filed in the Delhi High Court, according to a report by The Economic Times. Hearing in the case has been scheduled for March 20.

According to the report, the lending arm of Singh brothers’ firm, Religare Enterprises, took 21 loans to a number of seemingly independent companies.

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