Close X
Friday, November 1, 2024
ADVT 
India

Radha Soami Chief Gurinder Singh Dhillon Admits To Financial Dealings With Singh Brothers Malvinder And Shivinder

Darpan News Desk IANS, 14 Nov, 2019 08:59 PM

    THE HEAD of Radha Soami Satsang Beas, Gurinder Singh Dhillon, has, for the first time, admitted to financial transactions between himself and ex-Religare Enterprises (REL) promoters Malvinder and Shivinder Singh.


    In an affidavit filed before the Delhi High court on November 12, Dhillon has disclosed about the financial transactions between RHC holdings Ltd and his family members dating back to 2006.


    The court had in October ordered Dhillon along with his wife Shabnam, sons Gurkirat and Gurpreet and daughter in law Nayan Tara to deposit the amount owed to RHC holdings pvt Ltd in connection with the execution of Rs 3500 crore arbitration award won by Japanese form Daiichi Sankyo against former Ranbaxy promoters.


    While in his plea Dhillon had told the court that RHC Holding has made false claims. The court in its order had then asked the Dhillons to file relevant documents related to their dealings and transactions with the garnishees and their related companies.


    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.


    Dhillon has claimed that as the two families were then in a “very close relationship”, they did not record any written agreement. He has absolved his family members from any involvement in the financial transactions carried out by him.

     

    He, however, distanced himself from allegations of fund diversion by claiming that the brothers, as well as RHC had “deliberately” avoided giving a clear picture of all transactions between them as it would show “that nothing whatsoever is owed by the deponent (Dhillon) and his family members” to RHC or any of its subsidiaries.

     

    The transactions alleged by Dhillon are in violation of Securities and Exchange Bureau of India (SEBI) norms on promoters’ role in rights issues of companies.


    The religious sect head also states in his affidavit that in 2006, he had, on behalf of his sons, purchased REL shares worth Rs 12.50 crore. Of this, Rs 6 crore was loaned to Gurpreet and Gurkirat by RHC. A further sum of Rs 35 crore was taken out by his sons as loans for personal purposes, but was subsequently returned in 2011, Dhillon claimed in his affidavit.

    MORE India ARTICLES

    ‘Hang Up Immediately’: Delta Police Warn Of Scam Calls After New Canadian Resident Woman Loses $6,000

    Unfortunately the woman was convinced she was talking to a police officer, and was instructed to purchase $6,000 worth of bitcoins, which she did through a machine in Surrey

    ‘Hang Up Immediately’: Delta Police Warn Of Scam Calls After New Canadian Resident Woman Loses $6,000

    VIDEO: Shashi Tharoor Roasts Pakistan's 'Vituperative Mudslinging' On Kashmir, Twitter Brings Out Dictionary

    Many must have reached out for a dictionary as Congress MP Shashi Tharoor gave his speech lambasting Pakistan for raising the Kashmir issue at the Inter Parliamentary Union (IPU) assembly in Serbia.

    VIDEO: Shashi Tharoor Roasts Pakistan's 'Vituperative Mudslinging' On Kashmir, Twitter Brings Out Dictionary

    Punjab CM Announces Rs 2 Lakh Ex-Gratia For Family Of Apple Trader Charanjit Singh Killed In Shopian

    Punjab Chief Minister Amarinder Singh on Thursday announced an ex-gratia of Rs 2 lakh for the family...

    Punjab CM Announces Rs 2 Lakh Ex-Gratia For Family Of Apple Trader Charanjit Singh Killed In Shopian

    Pak Sent Two F-16 Jets Last Month To Intercept Spicejet's Kabul Flight

    Pak Sent Two F-16 Jets Last Month To Intercept Spicejet's Kabul Flight
    Pakistan last month scrambled two F-16 jets in its airspace to intercept a SpiceJet plane, assuming it to be a military aircraft, which was heading to Kabul from Delhi with around 120 passengers, a senior government official said.

    Pak Sent Two F-16 Jets Last Month To Intercept Spicejet's Kabul Flight

    Triangular Affair Turns Into Property Dispute; Cricketer Manoj Prabhakar, Actress Wife Booked

    Former Indian cricketer Manoj Prabhakar and his actress wife Farheen were booked in a criminal case by the Delhi Police on Thursday on the basis of an FIR lodged by London-based NRI, Sandhya Prabhakar, first wife of the ex-cricket star.

    Triangular Affair Turns Into Property Dispute; Cricketer Manoj Prabhakar, Actress Wife Booked

    PICS: Bajaj’s Iconic Chetak Makes A Comeback In Electric Avatar

    Iconic scooter brand of yesteryears, Chetak is making a comeback in an electric avatar with Bajaj Auto on Wednesday announcing that it will sell electric scooters under the label as a premium offering.

    PICS: Bajaj’s Iconic Chetak Makes A Comeback In Electric Avatar