Going through some fairly old email messages, I came across an July 23, 2018 ET Prime story that someone sent to me, "How the Singh brothers became victims of a realty play."
It takes a subscription to read the full story, so my correspondent sent a file that I converted to PDF. Here it is:
Download Singh brothers story
Like other stories about the Singh brothers and their relationship with the guru of Radha Soami Satsang Beas, Gurinder Singh Dhillon, the details are astoundingly complex.
Here's some easy to understand excerpts from the beginning of the story.
ET Prime pieced together this triangular love-hate story between the Godhwanis, Singh brothers, and Dhillons by speaking with several insiders, going through public disclosures, and poring over numerous corporate filings.
It is a story of a win-win association turning into a nightmare, an unending downward spiral.
...The transactions and movement of money and the multiple roles played by the individuals involved raise questions of corporate governance and conflict of interest. They show how Indian promoters continue to consider listed companies their private fiefdoms.
They also make one wonder about the Radha Soami sect's principles, including that the master "does not accept gifts or money for himself or his family from the sangat; all the money donated in seva is channelled into supporting the sangat".
I'll repeat what I said in a blog post about a Business Today story about this same subject -- the tangled web of highly suspicious financial deals involving the RSSB guru, his family, and RSSB insiders.
If you read the Bloomberg and Business Today stories, you'll learn that whatever we might call the financial schemes the guru is deeply involved with, it's very difficult to call them honest living.
Download Honest Living