New Delhi:The Delhi High Court on Tuesday adjourned hearing on the bail plea of former Religare promoter Malvinder Singh in a money laundering case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL).
The matter was posted for further hearing on November 26 as Justice Anup Jairam Bhambani, who is hearing the matter, did not hold court on Tuesday.
The court had on November 6 decided to hear detailed arguments while refusing to issue formal notice at this stage.
The government financial watchdogs are represented by advocate Nitesh Rana while advocates Abhinav Mukherjee and Manu Sharma represent Malvinder Singh in the High Court.
Malvinder is in judicial custody in a case related to alleged siphoning of Rs 2,397 crore.
A Saket court had in August dismissed his bail plea and noted that "investigation in this case concluded that various companies whose directors or office-bearers were persons related to or associated with the accused were granted loans by RFL on the instructions of accused Malvinder Mohan Singh.
"It is, therefore, obvious that allegations against Malvinder Mohan Singh have been substantiated by cogent evidence collected during an investigation. It has been found during the investigation that entities either owned or associated with accused Malvinder were involved in systematic placement/layering acquisition and projection of proceed of crime as untainted over long period.