New Delhi: The Delhi High Court on Thursday granted bail to former Ranbaxy promoter Shivinder Mohan Singh who was jailed last year in connection with a money laundering case at Religare Finvest Ltd. The court has directed Singh to furnish a personal bond of Rs 1 crore and two sureties by family members of Rs 25 lakh each.Also Read - Delhi HC Seeks Centre's Response Over Kirti Azad's Plea Seeking Delhi District Cricket Association Re-Election
The HC judge also directed the investigating officer of ED to request the Bureau of Immigration to open LOC on Shivinder Singh’s name and asked him to surrender his passport in order to prevent unannounced exit. Also Read - UPSC Mains 2021 Will Not Be Postponed Due to COVID Cases: Delhi HC Dismisses Plea of Candidates
Shivinder and his brother Malvinder Singh, ex-promoter of pharmaceutical major Ranbaxy, were held guilty of contempt of court by the Supreme Court in November last year. They had been under the scanner of Enforcement Directorate (ED) and were raided in April last year in a Rs 740-crore fraud case. Also Read - Delhi HC Takes Note of Sarojini Market Crowding Viral Video, Calls Situation 'Frightening'