He had further said that on the basis of “verbal agreement” in February 2010, RHC transferred Rs 219 crore each to his sons, which was then used to subscribe to the rights issue, resulting in an allotment of 61,83,013 shares of REL to each of his sons. “It was also agreed that upon the shares being sold or disposed of if the price realised was below the subscribed price, then the entire amount would be shared 50:50 between RHC and Dhillons family who had subscribed to the shares”. Dhillon has said that it was agreed that he and his family members would not be made liable to repay any amount or interest. The Dhillons are among 55 individuals and entities ordered by the court to pay over Rs 6000 crore owed to RHC holding in connection with the settlement of a dispute to Daiichi Sankyo’s acquisition of Ranbaxy laboratories.Įarlier in the High Court, Dhillon had said that in 2010, RHC holdings Ltd through Singh brothers had approached him to assist them in subscribing for the rights issue, suggesting that they would finance Dhillons to subscribe to the rights issue. An email sent to Dhillon did not elicit any response till the press time. Dhillons have been told to furnish details by September 7. Information has been sought regarding over Rs 26 crore which were transferred to him and his wife Shabnam Dhillon. “For the purposes of investigation, you are requested to provide documents,” it further said. “It was a loan transaction or otherwise,” the notice said. Dhillon has been asked to provide documents to show how these transactions in his income tax returns.
The EoW in its summons dated Aug 26 has asked Dhillon to explain why the amount was transferred to him and his wife’s personal account from various entities. The summons were issued by the EoW basis a FIR filed by the Religare Finvest.
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