The decision came as the Japanese firm challenged the sale of a majority stake in Fortis Hospitals to Malaysia’s IHH Healthcare as part of its efforts to recover $500 million in dues from the Singhs. Both brothers were Friday held in contempt by the Supreme Court, in another case involving the sale of Ranbaxy to Japan’s Daiichi Sankyo.
The tale only gets murkier, with Malvinder alleging that Shivinder had an ambition to one day head the powerful RSSB. This allegedly included the purchase of 2,60,000 sq ft of prime real estate in Delhi (near Select Citywalk Mall), 80,000 sq ft of property in Ahmedabad, 500,000 sq ft in Noida, three farmhouses in Asola, and 8,71,200 sq ft in Gurgaon, Live Mint reported. The money, Malvinder alleged, was transferred into the bank accounts of “Guruji” Dhillon and his associates in the form of loans made through a complicated network of smaller corporations, and used, in part, to expand the sect’s real-estate empire.
The century-old spiritual organisation’s head, 64-year-old Gurinder Singh Dhillon, is at the centre of one of India’s most high-profile business fiascos this year.īaba Gurinder Singh Dhillon | Radha Soami Satsang Beas | In October, former billionaire brothers Malvinder and Shivinder Singh, now on the verge of bankruptcy, were arrested by the Delhi Police economic offences wing (EOW) for allegedly causing a loss of Rs 2,397 crore to Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises.Įight months prior to that, Malvinder, the embattled business tycoon and former Ranbaxy, Religare and Fortis promoter, had filed a criminal complaint against his younger brother Shivinder, claiming that he conspired with a number of close associates to siphon off Rs 2,700 crore from their family’s holding company (RHC Holdings).
Materialism, fickle personal attachments, and capital-driven calendars of “eating, sleeping and accumulating personal wealth” are presented as modern-day obstacles to comprehending the true purpose of our lives.īut outside the cocoon of the Radha Soami Satsang Beas (RSSB) ashram in Bhati, Chhatarpur, the spiritual organisation’s moral messaging is becoming increasingly hard to believe.
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