Breaking news from the world of Indian financial misdeeds. The Indian Standard reports, "Shivinder Mohan Singh drags elder brother Malvinder Singh to NCLT."
Former Ranbaxy promoter and founder of Fortis Healthcare, Shivinder Singh, said that he has filed a case against his brother Malvinder and former head of Religare Sunil Godhwani in the NCLT court for oppression and mismanagement of RHC Holding, Religare and Fortis.
Shivinder Singh said in a press release issued on Tuesday that the action was long overdue but got delayed in the hope that "better sense shall eventually prevail and another ugly chapter of family feud would not be written in our family business’ glorious history."
Stating that he was dissociating with his brother, Shivinder claimed that "The collective, ongoing, actions of Malvinder and Godhwani had led to a systematic undermining of the interests of the companies and their shareholders as also the committed and loyal employees of the group."
This is turning into quite a financial and spiritual drama.
Spiritual, because Gurinder Singh Dhillon, the guru of Radha Soami Satsang Beas (RSSB), is related to the Singh brothers. Dhillon and his family are deeply enmeshed in the shady financial dealings that led to the dismantling of the Fortis/Religare business empire.
Shivinder Singh has been rumored to be the successor of Gurinder Singh Dhillon as the RSSB guru. Yet Sunil Godhwani, named in the lawsuit by Shivinder Singh, is Gurinder Singh's right-hand man, and other RSSB insiders also are heavily involved in the tangled web of enterprises related to the Fortis/Religare debacle.
Lawsuits between family members often have a way of bringing out facts that otherwise would be kept secret, both because of the openness required by court proceedings and a desire by one side of the family to reveal "dirt" about the other side. So it'll be interesting to see how all this plays out.
The big question regarding Gurinder Singh Dhillon is akin to the big question regarding Donald Trump. Scandals, investigations, indictments, and such have been circling around Trump.
Now the big question is how directly Trump himself was involved in the Russia collusion stuff, and attempts to interfere with the investigations. Likewise, the next big question regarding Gurinder Singh Dhillon and the Singh brother's dealings is how directly the guru has been involved in the shady side of the financial machinations.