New Delhi, July 23: The Delhi High Court granted bail to Shivinder Singh in an alleged money laundering case registered against him by the Enforcement Directorate.
The court granted bail on a bail bond of Rs 1 crore, two sureties of Rs 25 lakh each, among other conditions, according to the order pronounced on Thursday, Bloomberg reported.
That, however, won’t result in his release as he continues to be under the judicial custody of the Economic Offences Wing of Delhi Police on allegations of fraud.
Shivinder, along with his brother Malvinder Singh, has been in jail since October last year after he was arrested by the Economic Offences Wing of Delhi police for allegedly diverting money from Religare Finvest Ltd. and its parent Religare Enterprises Ltd. via loans to private companies owned by them.
After the arrest, Shivinder claimed that he was a victim of fraud and offered to cooperate with the investigating agencies. While in judicial custody, Shivinder was arrested by the Enforcement Directorate on allegations of money laundering. In April, Shivinder had moved the Delhi High Court seeking release in the light of the Covid-19 pandemic. But it rejected his request.
A month later, the Saket District Court declined a bail plea by Shivinder saying that he did not pass the legal test for release on bail. After that, Shivinder again moved the Delhi High Court seeking a regular bail. The bench headed by Justice Anup Bhambani reserved the judgment on July 16.