Today a commenter on this blog shared a link to a Business Standard story that can only be read in its entirety by subscribers.
But since it deals with a subject that's I've written about frequently -- the financial scandal involving the Singh brothers and their relative, Gurinder Singh Dhillon, the guru of Radha Soami Satsang Beas -- I'm sharing a screenshot of the abbreviated story.
Scroll down for my take on it. Rs 520 crore is about $72 million, with Rs 403 crore being about $56 million.
This action by Fortis was anticipated back in May, as discussed in a LiveMint story, though the current amount Fortis wants to recover is higher now.
The impact on the RSSB guru and the rest of the Dhillon family is unknown at this point.
What should concern them is that theyve been named as the ultimate beneficiaries of the money that flowed in a fraudulent fashion from Fortis into shell companies, then reportedly into the pockets of the Dhillon family.
Here's a flow chart from a Business Today story that shows this.
Though Fortis has filed a civil suit, if recovering the money that went into the shell companies, then apparently to the Dhillon family, results in evidence of wrongdoing by the Dhillon family and their associates, it seems there's a decent chance of criminal charges being filed at some point.