Given that the High Court of Delhi has ordered Gurinder Singh Dhillon and his family to pay back money they owe to Religare, a company once controlled by the Singh brothers and Sunil Godhwani, I thought it would be interesting to go back and look at Malvinder Singh's criminal complaint against the Dhillon family, Godhwani, and others.
That complaint was filed in February of this year, I believe. I wrote about it in a February 20, 2019 blog post, "Legal filing against Gurinder Singh Dhillon is fascinating reading."
UPDATE: I forgot to mention that anyone who doubts that Dhillon and his family received lots of money from shell companies should scroll to the attachments in Malvinder's criminal complaint. There you'll find a detailed accounting of the funds that went into the pockets of the Dhillon family, along with a signed message from the RSSB guru acknowledging his liabilities and the need to "work to settle the accounts."
Recent stories in the Indian financial press have said that authorities are investigating possible co-conspirators in the massive financial fraud that has led to the arrest of Malvinder and Shivinder Singh, plus Godhwani and a few others.
Naturally it is impossible to say how that investigation will play out.
But here's how I summarized parts of Malvinder Singh's criminal complaint, since it presents a persuasive argument for the culpability of the Gurinder Singh Dhillon in this financial mess. Read my original blog post for more details.
Someone sent me a copy of the legal brief filed by Malvinder Singh against his cousin, Gurinder Singh Dhillon, the guru of Radha Soami Satsang Beas; the guru's wife and children; Malvinder's brother, Shivinder; and several cronies of the guru.
...This complaint has formed the basis for a number of stories in the Indian financial press (see here, here, and here). Now, obviously Gurinder Singh and the other people named in the complaint will have an opportunity to respond to the allegations of illegality.
But the complaint is very much in line with comments left on this blog from 2010 to 2014 by someone in the know. I shared their 27,000 words in "Devastating criticism of Gurinder Singh Dhillon by a RSSB insider." So this is independent confirmation that the general tenor of what Malvinder Singh alleges in his complaint is true.
I strongly recommend reading the criminal complaint in full. Though the stories in the Indian financial press accurately reflect what is in the complaint, there's additional details in the complaint. And it is well-written in what I assume is the style of Indian legal documents of this sort.
...Sunil Godhwani was the guru's right-hand-man/close advisor for many years. Control of companies owned by the Singh brothers passed to Godhwani at the request of Gurinder Singh. This is the first mention of how Malvinder Singh viewed the guru as a spiritual guide, father figure, and mentor. Malvinder and Shivinder are initiates of Gurinder Singh, I'm pretty sure.
...This excerpt talks about how Godhwani wasn't running the companies on his own, but was in "consultation and conspiracy" with Gurinder Singh to cheat Malvinder.
...To understand this excerpt, we need to remember that the RSSB guru is considered by devotees to be God in human form. Hence, his advice and guidance can be trusted as divine. Malvinder says that he trusted Gurinder as his spiritual guru and believed "he can do no wrong." Almost certainly he can, though, as we'll see in the next sections of the complaint.
...Shivinder is alleged to have spent a lot of time at the Dera (RSSB headquarters) working on a conspiracy to take money from RHC (a holding company formed by the Singh brothers with many subsidiaries) and shift the money to the guru, his relatives, and others -- leaving RHC with no assets but only liabilities, which obviously hurts Malvinder and other RHC shareholders.
...Via an audit, Malvinder learns that RHC is debt-ridden and wasn't a "going concern." This leads him to investigate what happened. He learns that his brother, Shivinder, hasn't engaged in any sort of normal business practices, which the complaint argues shows the fraudulent intent of acquiring various companies held by RHC.
...The complaint says that Malvinder learned that the RHC companies had loaned 1006 crores, which seems to be about $142 million US dollars, to Gurinder Singh, the guru's family, and other close associates of the guru.
...After listing the exact amounts of RHC loans that total to the $142 million, the complaint alleges that Godhwani, in collusion with Shivinder and Gurinder Singh, "intrinsically intertwined" the finances of the Dhillon family with the finances of the companies -- which, as noted above, had shareholders whose interests weren't served by taking money from RHC to give to the Dhillon's.
...Here's one of the motives (maybe the main motive) of Shivinder going to such lengths to funnel money into the pockets of Gurinder Singh Dhillon and his family. The guru had promised to make Shivinder the head of RSSB, taking Gurinder Singh's place, in exchange for forgiveness of the debts owed to RHC by the guru.
...This part of the complaint says that Shivinder, in connivance with Gurinder Singh, his family, and close associates fraudulently acquired six companies in order to hide from RHC shareholders what was going on, and to shield the people who had gotten loans from RHC from having to repay the money.
...Shivinder agrees to sign a "family settlement" that absolves Gurinder Singh Dhillon of wrongdoing or criminality. But Malvinder has objections to this, as detailed in some emails included in an appendix to the complaint. Again, Malvinder alleges that his brother, Shivinder, agreed to this "in his greed to become the next spiritual head of the Radha Soami Satsang Beas."
...When Malvinder refuses to sign the settlement agreement, things get really nasty. Malvinder says that Gurinder Singh threatened that he would be eliminated by people from the Radha Soami Satsang, and warned him that the guru is a powerful person who has friends in high places.
...Malvinder states that he has recordings of the death threats made by Gurinder Singh and can make them available as and when desired. He also has received "veiled innuendos and threats" from other members of RSSB. Not surprisingly, this has put Malvinder "under immense mental pressure and trauma."
He's fearful for his life, saying that if anything happens to him this will be at the "behest of Sh. Gurinder Singh Dhillon and the other accused and those working under his influence."
...Here the complaint says that Shivinder Singh has refused to try to recover the loan money as part of "his evil design to effectively try and write off the debt of the Dhillon Family."
...This isn't a victimless crime, because Fortis Healthcare will be affected, diluting the value of shares owned by investors, defrauding the public, and adversely impacting public confidence.