As has been evident to those of us who have been following the saga of the Singh brothers and Gurinder Singh Dhillon (the guru of Radha Soami Satsang Beas), the trail of money that was fraudulently siphoned out of public companies is leading right to Dhillon's pockets.
Here's a Business Today story that someone told me about today. It's short, so I've copied it in below. I couldn't resist boldfacing the parts that point to Dhillon's legal culpability in this financial mess.
I've been wondering how long it would take until investigators in India would focus on the ultimate beneficiaries of the massive amount of money (about $332 million) this story says was diverted from Religare.
It's been widely reported that the Dhillon family used that money to invest in real estate deals that went bad, but so far the focus has been on Malvinder and Shivinder Singh, Sunil Godhwani, and others who orchestrated the fraudulent loans that ended up in shell companies controlled by Gurinder Singh Dhillon, his family, and close associates.
So it's good to see that Sheetal Talwar and his attorneys are telling SEBI, the Securities and Exchange Board of India, that the RSSB guru was the beneficiary of most of the illegally diverted $332 million, which means, almost certainly, that Dhillon also was part of the conspiracy to siphon off those funds from Religare.
Read on.
NRI film producer Sheetal Vinod Talwar has submitted to Sebi that Radha Soami Satsang chief Gurinder Singh Dhillon and his family allegedly benefited the most from Religare's Rs 2,300 crore fund diversion. Sebi's forensic audit via probe agency MSA Probe Consulting had identified diversion worth Rs 2,315.09 crore.
Talwar's Vistaar Entertainment and Religare Enterprises were partners in India's first SEBI-registered film fund - Vistaar Religare. Earlier, in March, Talwar had approached the Economic Offences Wing of Mumbai alleging he was threatened with life after his lawyers pursued repayment of $1.25 million paid supposedly towards Dhillon's treatment abroad.
Talwar has told Sebi that even though its Religare investigation via forensic audit firm MSA concluded fund diversion and large scale irregularities and illegalities, the probe did not lift the corporate veil to disclose the ultimate beneficiaries of the diversion.
Advocates & Solicitors Kartikeya & Associates-representing Talwar-have submitted to Sebi on 29 May, 2019 that, "...the persons who have benefitted the most and/or on whose instance the said illegalities and irregularities were and/or have been committed have yet not been identified. Please note that the persons and/or the shadow promoters of REL, RFL and their other group companies is one Gurinder Singh Dhillon (GSD/Babaji) and his family".
Sebi's original investigation against alleged fund diversion at Religare Enterprises & Religare Finvest was triggered by Talwar's primary complaint to RBI (later forwarded to Sebi) dated 12 April, 2017. In his complaint, Talwar had informed RBI about alleged "irregularities and illegalities committed by the promoters and/or board of directors" of the two companies. RBI forwarded the complaint to Sebi which ordered the probe via MSA.
Talwar's complaint to Sebi has also levelled a grave charge of a serious conflict of interest among Religare's then board members. "...the fact that the companies shared common directors to the GSD family as well as were all run by GSD followers eg. Just a quick review would point to the fact that during the diversion of funds, Vitoba, Platinum and Devera entities to which fund were diverted would reveal that Yuvraj Narain Gorwaney alias Mithu is on the board of these companies-not only is Yuvraj...the secretary of RSSB, he also sits on the board of Logos Holding along with GSD and Shabnam Dhillon. Many such associations exist between the entities named and GSD family."
Talwar is a National Film Award winning global film producer and angel investor. His first feature film 'Dharm' secured the National Film Award. It premiered at the prestigious Cannes Film Festival. Talwar has produced films such as 'Rann' starring Amitabh Bachchan, 'Mausam' with Shahid Kapoor, 'Rakta Charitra' starring Surya. Among international films, he produced 'The Joneses' starring Demi Moore, the Martin Freeman starrer 'The Eichmann Show', 'Romans' starring Orlando Bloom.
"As has been evident to those of us who have been following the saga..."
Only to those of us who've taken our heads out of the sand and not hysterically sought strange irrational defenses and impossibly high bars to clear before admitting that the dude holding the money is in fact the dude holding the money.
Posted by: Jesse | June 06, 2019 at 11:10 PM
More evidence but not proof.
The believers will still believe.
Because they have their whole spiritual future at stake. Nobody can afford to risk their secured place in sach khand.
And they claim to love their master too. And lovers don’t give up easily.
As in this bulleh shah Kalaam
https://youtu.be/_nqNX6d7MFg
A man hired a detective to spy on his wife who he suspected of having an affair.
The detective reported back;
She went home with another man from a night club.
I saw the bedroom light turn on
The curtains were drawn and I saw the silhouette of a man and a woman in bed.
I saw them embrace then the lights went out.
“Damn it” said the husband
“We still don’t know for sure
The damn lights went out and we don’t know what happened next. I have my doubts”
Posted by: Osho Robbins | June 07, 2019 at 02:18 AM
The Article says: "Advocates & Solicitors Kartikeya & Associates-representing Talwar-have submitted to Sebi on 29 May, 2019 that, "...the persons who have benefitted the most and/or on whose instance the said illegalities and irregularities were and/or have been committed have yet not been identified. Please note that the persons and/or the shadow promoters of REL, RFL and their other group companies is one Gurinder Singh Dhillon (GSD/Babaji) and his family".
Looks like the even auditors are pointing their fingers at GSD and his family. Let's see if the authorities take the lead and pursue this.
In an Economic Times article from yesterday, they wrote "The three investors have appointed Kotak Mahindra Capital as the merchant banker for the deal, the people said. Two other investors — Axis Bank (5.5%) and the family of Gurinder Singh Dhillon of Radha Soami Satsang Beas (5%) — may exit the diagnostics company if they get the same terms as the buyers of the three PE firms’ stakes, the person said. “However, it’s very unlikely that IHH would facilitate the exit of these two investors,” said one person."
Looks like GSD is trying to sell off shares to create capital to pay off debts. Supreme Court has not allowed any funds to transfer out, so have to see what transpires with this also.
Read more at:
"https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/pe-firms-ny-jacob-ballas-others-start-process-to-sell-31-5-in-srl/articleshow/69682165.cms
Posted by: Amar | June 07, 2019 at 07:47 AM
Hey Osho - how's it going brother? :)
You wrote: "More evidence but not proof."
Sure, sure, no proof of illegality just yet, perhaps. But 100% incontrovertible proof that he is nothing at all like what a "Pooran Sant Satguru Huzur Maharaj" should be, right? I'll be honest, there's too many criminal cases in the world for me to really be interested in Gurinder's alleged criminality, but what does/should concern me/ALL of us is his alleged status as the sole saviour of souls in the entire multi-verse. Annnd I think the Jury's out on that one, bro :)
Though to be fair, there is more evidence of Gurinder's criminality than there is that any human being who has ever existed is literally a ""Pooran Sant Satguru Huzur Maharaj" as defined by RS dogma, so swings and roundabouts as to where we place our emphasis on evidence, I suppose.....
Osho: "The believers will still believe. "
Of course, such is human nature. So much fun isn't it? :)
Give us a shout/whatsapp sometime!! Cheers :)
Posted by: manjit | June 07, 2019 at 08:58 AM
Wide reaching medical billing fraud at Fortis when under Shivinder's leadership
https://www.thehindubusinessline.com/companies/serious-fraud-office-to-probe-fortis-religare-for-alleged-irregularities/article22795515.ece
You can take Shivinder out of Ranbaxy but you can't take Ranbaxy out of Shivinder.
Posted by: Spence Tepper | June 07, 2019 at 11:32 AM
Oops here is the correct link....
HomeCity
Religare Insurance booked for fake claim
Umesh R Yadav
Umesh R Yadav, DH News Service, Bengaluru,
JUN 07 2019, 00:02AM IST UPDATED: JUN 07 2019, 00:04AM IST
The accused showed that Rathna Bai had undergone medical treatment at Diya Healthcare, with documents attested by the doctors there. Even Bai’s signature was forged. (Image for representation)
A 59-year-old woman filed a complaint against Anuj Gulati, MD and CEO of Religare Health Insurance, Vijay Bhaskar, Religare’s Bengaluru manager and 13 others including doctors at Diya Healthcare, for producing fake medical bills on her insurance policy and claiming it without her knowledge.
Rathna Bai, a resident of Vyalikaval, alleged in her complaint that the accused forged medical certificates of her health checkup and despite knowing they are fake, Dr Vijay S, product head of Religare, submitted them to the insurance ombudsman in Bengaluru in June, 2018.
“When I bought a health insurance policy from Religare in 2014, I was not asked to undergo a health check up. I did not undergo treatment. But Dr Vijay along with Ramnique Sachar, corporate manager, Prashanth Singh, legal manager and Khushpreet Singh, head of claims medical, all from Religare, have helped create fake documents and submitted the same to the insurance ombudsman,” Rathna Bai said in the complaint."