Recently I received a message from someone who replicated part of the research that journalists with the Indian financial press have been doing in connection with the financial scandal involving the Singh brothers, their guru cousin (Gurinder Singh Dhillon), and close associates of the Dhillon family.
I'm sharing what this person learned by delving into public business records for several reasons.
One, it's interesting. Two, it shows what lies beneath the many stories published by the Indian financial press, which some defenders of the Radha Soami Satsang Beas guru wrongly call "fake news." Three, it points to the fact that if this much can be learned by an ordinary citizen or reporter, investigative authorities in India surely are able to learn much more.
As background to what you'll read below, Luminous Holdings is one of the 56 entities the High Court of Delhi has ordered that money be recovered from, so the Singh brothers can pay a $500 million settlement owed to Daiichi Sankyo after it was found that the brothers failed to disclose information about adulterated drugs in the course of Daiichi buying Ranbaxy, their pharmaceutical firm.
Here's an excerpt from a September 2018 blog post I wrote about a The Indian Express story that mentions Luminous Holdings.
According to a source privy to the development, some senior members of the sect recently asked Dhillon about his reaction to various news reports regarding the Singh brothers. The source said that Dhillon told these members that he has answers to all the questions that have been raised and he will give the answers himself at an opportune time. Dhillon told the senior members that spiritual and business aspects of our lives are separate and that devotees should focus on the former and not get diverted from it.
The RHC Holding as well as the RSSB did not respond to the queries sent by The Indian Express. Another source — involved with RSSB’s corporate dealings — added that Dhillons have been in business with Singh brothers for a very long time. “Take the example of Luminous Holdings, which was set up in 2002, and has Babaji himself as a director. Moreover, his wife Shabnam Dhillon is the other director of this company,” he said.
According to documents with corporate affairs ministry, Luminous Holdings had a long term borrowing of Rs 6.5 crore as on March 2017. Of that, around Rs 4.4 crore came from Delhi-based Fern Healthcare. In June, a probe by law firm Luthra and Luthra found that Singh brothers moved about Rs 475 crore from Fortis to various private companies. Fern Healthcare was one of them.
Thus it isn't surprising that it is taking investigators in India quite a while to understand the complex web of financial transactions, many of them fraudulent, that involve companies once controlled by the Singh brothers and the Dhillon family. The message that I received deals with only one small strand of this web.
Read on... (As noted above, Shabnam Dhillon is the wife of Gurinder Singh Dhillon, the RSSB guru.)
This is the screenshot of the current and past directors of Luminous Holdings. You can see that the two current directors took over on May 4, 2019, the day Gurinder Singh Dhillon ceased to be a director. His wife, Shabnam, ceased to be a director a few days later, on May 9, 2019.
And I believe the following screenshot is a list of past companies Shabnam Dhillon was a director of.
Note that Prius Real Estate, Prius Commercial Projects, and Sharan Hospitality are some of the companies in this Business Today graphic of how money flowed into the pockets of the Dhillon family from companies once controlled by the Singh brothers.
So any claim by the RSSB guru that he and his family didn't receive any money from RHC Holding, Fortis, and other Singh brothers' entities almost certainly would be false.