The Enforcement Directorate has recorded the statement of Mohit Burman, Chairman of the Dabur Group, who has been named as one of the accused in the ongoing investigation into the misappropriation of funds at Religare Enterprises Limited, officials said on Tuesday.
The alleged misappropriation and illegal diversion of funds from the financial services firm has reportedly caused significant financial losses to the company and its shareholders.
The ED probe was initiated following a complaint filed by Vaibhav Gawli at the Matunga police station, who claimed the former directors of Religare, several directors from the Dabur Group, and others were involved in the alleged financial misconduct.
According to sources, the agency also recorded the statements of three independent directors of Religare. The investigation is currently in its preliminary stages, with the ED focused on gathering information from key stakeholders and those named in the FIR.
The FIR also alleged that former directors of Religare, Shivender Mohan Singh and Malvinder Mohan Singh, along with other associates, were involved in a large-scale criminal conspiracy.
The complaint also named entities such as MB Fin Mart Pvt Ltd, and individuals including Mohit Burman, Vivechand Burman, and Monika Burman, accusing them of having close ties to those involved in the systematic diversion of funds from Religare and its subsidiaries.
A key allegation against Malvinder Mohan Singh, in particular, is that he, along with Shivender Mohan Singh and Sunil Godhwani, induced Religare Finvest Limited (RFL) to grant unsecured loans amounting to Rs. 2,397 crore to related shell companies, fully aware that these loans would not be repaid.
In a related development, another FIR registered at Matunga police station has also surfaced, linking Mohit Burman and Gaurav Burman of the Dabur Group to the Mahadev Betting App case.
The FIR, which names 31 accused, was filed by Mumbai Police and has since been integrated into the Chhattisgarh ECIR by the ED. The complaint, lodged by a Matunga-based social activist, Prakash Bankar, was filed in November last year.
Source Agencies
