Indian journalists continue to do an excellent job of reporting on the complex, Bollywood'ish drama of how Malvinder and Shivinder Singh's business empire disintegrated, in part because of their ties to a guru relative, Gurinder Singh Dhillon, who heads up the Radha Soami Satsang Beas (RSSB) spiritual organization.
Here's some excerpts from a well-researched Outlook story. I've focused on the passages that mention Dhillon and his family, which are boldfaced. Keep in mind that Sunil Godhwani was the guru's right hand man, personal treasurer, and reportedly once managed the finances of RSSB.
Download Riches To Rags: How Billionaire Ranbaxy Brothers Malvinder And Shivinder Singh Landed In Jail
Of course, it is about money. But in the case of Malvinder and Shivinder Singh, the two Ranbaxy brothers and billionaire scions who ended up in jail, the narrative goes beyond a simplistic explanation. The sub-plots, which emerge larger than the main one, include personal tussles between family members—father-son and sibling rivalries—besides intense friendships that led to greater animosities. Add to this the mysterious veil of spiritual power—both the quest for it, and efforts to retain it.
The story spans three decades, starting when the two brothers were quite young, and their father, Parvinder Singh, and grandfather, Bhai Mohan Singh, were alive. It takes numerous twists and turns, curls and loops, and one can lose track of the critical markers along the journey. It comprises hundreds of dubious deals—money transfers from listed companies to shadowy private firms. Each transaction includes dozens of sub-deals so there is minimal connection between the points at which it originates and where it ends.
Even the mastermind, if there is only one, is difficult to pinpoint. Sometimes, the needle of suspicion points at Malvinder, the elder Singh, who took the key decisions. At other times, Shivinder appears to be the perpetrator, given his aggression and ambition. In some cases, Sunil ‘Sunny’ Godhwani, who handled the personal wealth of the two Singh brothers, looks guilty. The cast of characters also includes several faceless bankers, senior corporate managers, company auditors and financial experts.
However, there is a big shadow lurking sometimes in the forefront, and sometimes in the background. This is the towering personality of Gurinder Singh Dhillon, the spiritual head of Radha Soami Satsang Beas (RSSB), which boasts of more than four million followers across the world. Gurinder Singh’s family members are allegedly active participants in the various firms involved in the fraudulent deals—wife Shabnam, and two sons, Gurpreet and Gurkeerat. RSSB forms a common link between the various actors.
The cases against the Ranbaxy brothers are simple to understand. They allegedly siphoned off huge sums—one estimate puts it at Rs 10,000 crore—from the listed groups such as Ranbaxy, Fortis and Religare. They funnelled the money to their closely-held private firms. They retained a part of it, and shifted the bulk of the funds to other firms that were owned by Sunil Godhwani, Gurinder Singh and Shabnam Dhillon, and Gurpreet and Gurkeerat Singh. Most of the money was used to buy real estate.
The loot was systemic, deliberate, in connivance with the bankers, financiers, and auditors, and against the interests of the investors in the listed companies. It was done over 12-13 years. The money was squandered as the values of the properties fell sharply during the ongoing crisis in real estate. When the scandals became public, each actor blamed the others. Malvinder found faults with Shivinder, Godhwani and the Dhillons; Shivinder with Malvinder and Godhwani; the Dhillons with Godhwani; and Godhwani with the others.
“The notorious saga of Malvinder and Shivinder Singh seems to be at a conclusive stage and investigating agencies are tightening their grip on the pending cases,” says Sandeep Grover, partner, Ortis Law Offices. “At the same time, in a case filed by Japan’s Daiichi-Sankyo, which bought Ranbaxy in 2008, the Delhi High Court has asked the Singh brothers to reveal details of the assets transferred by them (from Ranbaxy, as alleged by the Japanese buyer).” The court has sought information from the other players like Gurinder Singh of RSSB.
...The two brothers sought ways to sell the company to a global player. In 2008, during the height of the global recession, Daiichi purchased the Singh family’s stake for $2 billion. It was a corporate coup. The brothers had found the perfect way to tide over a global financial crisis. They had emerged as the Kings of Cash. Finally, to bolster their personal wealth, the Ranbaxy brothers, according to a complaint by the Japanese buyer, illegally transferred Rs 2,900 crore from Ranbaxy to their private concerns.
By this time, the Singh siblings were close to RSSB, Gurinder Singh Dhillon and Godhwani. The RSSB-Singh family proximity was decades-old. According to members of the sect, when Babaji, as Gurinder Singh is popularly known, shifted to Beas from Spain in 1990 to take over as the new head, the situation was complex. He was inexperienced, and there were internal power struggles. Parvinder, father of Malvinder and Shivinder, became Dhillon’s “biggest source of support”.
After Parvinder’s death, his two sons, who were deprived of their legitimate corporate power because of Brar, sought refuge and solace at Babaji’s feet. Sources contend it was the RSSB head, who cajoled them to sell Ranbaxy. Godhwani, a key member of the sect, became friends with the Singhs, or at least Shivinder, and emerged as their personal financial advisor. He helped them in moving the money out of Ranbaxy to personally owned companies, and take important investment decisions.
The extent of proximity among these three families was evident in 2006. Malvinder and Shivinder transferred 13.5 million shares of a group firm, Religare Enterprises, to the two sons of Gurinder Singh, Gurpreet (6.25 million) and Gurkeerat (6.25 million), and Godhwani (1 million) at the face value of Rs 10 each. During the company’s IPO in 2007, these shares were allotted to public shareholders at Rs 185. The combined paper profits of the trio: a whopping Rs 227.5 crore. Godhwani was the head of Religare.
After the 2008 sale of Ranbaxy, three strands grew simultaneously. Publicly, the Singh siblings seemed like smart entrepreneurs, who judiciously used the $2 billion from the Daiichi deal to grow their operations in hospitals (Fortis), and finance (Religare). They had huge ambitions—they wished to build the largest hospital chain in the country, and open a bank. They became the darlings of the media and shareholders. Corporate observers felt they could do no wrong.
In private, away from prying eyes, the shenanigans continued. Massive amounts, raised as loans, were allegedly funnelled out of Religare and Fortis groups, and found their way to the private firms owned by the Ranbaxy brothers, Godhwani, and Gurinder Singh and his family members. One estimate is that Rs 2,300-2,700 crore was looted to buy commercial properties in various cities, including in Saket, New Delhi. Shabnam Dhillon, wife of the RSSB guru, was a director in some of the largest recipients.
...Malvinder, who claimed he got a death threat, said Shivinder, who wished to be RSSB’s next spiritual head, “bribed” the Dhillons. This was done by the transfer of loans raised by the three listed groups, Ranbaxy, Religare and Fortis, to the private firms owned by the Dhillons. Shivinder maintained that Godhwani had misused his powers as the manager of the Singhs’ personal wealth. The Dhillon family told the Delhi High Court that it had not received any money from the Singhs.
“These are meaningless allegations,” says a RSSB member. “There is no case of money laundering of the sect’s funds. RSSB’s money and assets are handled by a trust, and there can be no manipulation. Babaji’s name is being dragged into corporate scandals masterminded by others such as Godhwani, who became quite close to the Singhs in 2011.” Godhwani has largely been silent.
The courts will decide the destinies of these characters. The fall of the Ranbaxy brothers is a classic case of how hubris, conceit, hunger for money and over-confidence can lead to a house of frauds. As quickly as it was built, it can fall instantly like a house of cards.
Dear Brian, thanks for blogging about Faqir Chand. He is a very interesting subject.
Before I go on, I think it is important to realize that all these gurus (of whatever stripe) are human beings, with all the different quirks and distinctive personality traits that go with it.
Having met lots of shabd yoga gurus during the past forty years, I found Faqir Chand unique.
You could ask him any question and he would never shy away from it. Moreover, Faqir (to his great credit) consistently said that he could be wrong and that his point of view was not final. That was entirely refreshing to me.
I say this because one can see a progressive quality in Faqir's writings from the earlier days to near his death.
So here are some answers to the questions that both Spence and Brian posed:
1. First, Faqir came to believe that all the inner regions were ultimately illusory and that even the inner sounds were illusory. As Faqir said in London in 1980:
"Like I said yesterday, I have realized that all these stages of Sahasraradala Kamal, Trikuti, Sunn, Maha-sunn are the play of this mind. Visions are based on the thoughts one keeps. This play of whatever one sees within (i.e. visions) is based on samskaras (impressions and suggestions). They are not the same for everyone. Visions or images vary from person to person."
2. Faqir was appointed a guru by Shiv Brat Lal some 21 years before his guru's death. As he himself confessed:
"Hazur Data Dayal Ji called me in his room. I was already waiting for the moment. I went inside. Lo! His Holiness with a strange blend of affection placed in my hands one coconut, five [coins], made a frontal mark on my forehead and bowed himself to my feet saying,
'Faqir, you are yourself the Supreme Master of your time. Start delivering spiritual discourses to the seekers and initiate them into the path of Sant Mat. In due course of time, your own satsangis will prove to be your True Guru,' and it is through your experiences with them that the desired secret of Sant Mat will be revealed to you.'
Touched by these words, I experienced both joy and sorrow within me. Hazur noted both expressions on my face and asked for clarification.
I humbly said, 'Your Holiness, I am myself ignorant of the Truth, how can I lead others on this sublime path? And when the thought that I have become a degree holder and would deliver discourses and initiate people flashed within my mind, I felt that I had become something and thus a spark of joy.'
Hazur then said, "Faqir, you may be suffering from ninety-nine shortcomings, but one sure virtue of Truth which is within you will lead you to your goal in life. You will not only redeem yourself but will help many others to attain release."
In 1981, Faqir said,
"Further R. S. Dayal writes that he heard the conch-shell sound and the omkar vibration inside. I have explained in a book why a meditator hears inside him sounds of bell, conch, omkar, flute and sitar. All these are manifestations of the mental plane.
Since this knowledge came to me, I ceased to be caught up in the whirlpool of the mind and transcended it. Now, I took upon all these manifestations as mere maya. Therefore, now, even if I try to catch these sounds, I do not get them, because their value, as something real, has vanished for me who has transcended the mind."
3. Faqir stopped initiating anyone formally after 1942, but he continued to give satsang and tried to argue that we should go beyond the mind, even beyond light and sound, and find the source from which all this appears.
Faqir explained his own way of speaking:
"I believe that the intensified faith of these devout persons becomes creative and produces these results. Many so-called gurus misappropriate the credit for similar happenings, which take place in their disciples, whose own true faith should be held responsible for those results.
By the lack of moral, courage and honesty on the part of pseudo-gurus, credulous disciples are kept in the dark and fleeced under fake pretenses.
I alert the faithful but simple minded satsangis, to beware of such sneaks and their false claims. I had been commanded by my Gurudev [Shiv Brat Lal] to introduce plain speaking into religion, so I am duty bound to proclaim the truth behind these miracles, and to save the simpletons from exploitation.
If I do not reveal the truth, I can, by keeping satsangis in the dark, extract from them large sums of money by claiming fake credit, for the miracles that no doubt do happen."
Brian is correct to ascertain that Faqir argued for something beyond light and sound, and in this way dovetailed with the Tibetan Book of the Dead.
He called it hanging on the gallows.
Here is a quote:
"What conclusion did I reach? When I found out that I do not manifest or appear within anybody, then I also leave the mind (and all its appearances). Then remains light and sound. Every two or three months or sometimes every three days, when I go and search for that entity that listens to the sound, then my being disappears.
What remains? Nothing.
Now I think to myself – if I have become something by reaching that place, if I can do something, then I should be able to remove all the problems that the world is facing right now.
If they could, the ancestors from the past would have removed their problems or difficulties. Baba Sawan Singh would have removed his troubles. Swamiji would have alleviated his disease. Kabir had kidney problems for ten years in the old age.
So what did I understand? What is my realization of this supreme element (Tatva)?
I am a bubble of the supermost consciousness. In the process of evolution, I appeared or manifested. Similarly, you also appeared. I did not exist before, and I won’t exist again. Only one element will remain from which this bubble came into existence.
That element is Sound. It’s name is Naam.
That Naam is not the sound of bells or conch. It’s not the sound of Veena. It is the principle sound (Saar Shabad). This is what the bani of saints mentions – Saar Shabad.
So after reaching this, what happened to me? What did I gain? I found peace. What did I gain at this age of ninety-four? Peace."
Will write more tonight..... particularly in response to Jay (hi Jay, always good to read your ideas!).