I'd like to get back to writing about other subjects on this blog, but news about the Singh brothers, RSSB, and Gurinder Singh Dhillon (RSSB guru) keeps coming in from links people send to me.
And it's a fascinating story -- this tale of how a supposedly spiritual sect, Radha Soami Satsang Beas, has gotten deeply entangled in some highly suspicious financial dealings.
Today the DNA India site reports, "SFIO may expand Singh brothers' probe to Ranbaxy sale." Excerpts:
Ministry of Corporate Affairs (MCA) is looking for a deeper investigation of all associated firms related to brothers Malvinder and Shivinder Singh – Ranbaxy, Religare and Fortis Healthcare.
"This is not an ordinary case; it seems there are more people are involved in a web of transactions," source privy to the matter told DNA Money. "Initially Singh Brothers blamed the third person, Sunil Godhwani, and now they are blaming each other, which needs more thorough investigation by Serious Fraud Investigation Office (SFIO)," he said.
SFIO, which is already probing into the affairs of Religare and Fortis, may extend the investigation to other related entities of Singh brothers including Ranbaxy. The trigger point for further investigation is the recent accusation of Singh brothers.
...The role of Godhwani and Radha Soami Satsang Beas (RSSB), a religious sect and the management who joined the business with Singh brothers are also on the radar.
The common point of Singh brother and Sunil Godhwani was RSSB. Both have a close relationship with the sect. Godhwani was the financial head and adviser of RSSB.
Godhwani became managing director of Religare Securities on April 15, 2002, and later also held a 1.3% stake in the listed firm Religare Enterprises. Along with Godhwani, other Satsang members, including R K Shetty and Padam Bahl, had joined the Religare Enterprises Board.
As I've noted before, this scandal bears a close resemblance to what's happening with the investigations involving President Trump. Numerous associates of Trump have either been indicted, pled guilty, or are cooperating with investigators to avoid more serious charges.
But so far Trump himself hasn't been charged with any wrongdoing. However, it is well known that investigators (in Trump's case, the FBI/Justice Department) start with with lower-level people, then work their way up to the top people in an organization.
Likewise, so far the RSSB guru, Gurinder Singh Dhillon, hasn't been implicated in any wrongdoing. But since, as the DNA story says, Sunil Godhwani was the financial head of RSSB and the guru's right-hand man, it is difficult to believe that Gurinder Singh wasn't aware of what Godhwani was doing with Religare.
More facts will come out, I'm confident of that.
One big question is: to what degree will RSSB insiders choose to protect the guru and RSSB higher-ups, if this means that they will face serious legal problems? With Trump, we're seeing previously loyal associates of the President choosing to cooperate with prosectors to avoid jail time.
Trump, though, isn't viewed as God in Human Form by his associates, while the guru is. (Trump must envy gurus, since he loves to be worshipped.)