New Delhi: The Economic Offences Wing (EOW) of the Delhi Police has officially registered a significant case based on a detailed complaint filed by Japna Singh, the wife of Malvinder Singh, a former promoter of Fortis Healthcare. This legal action centers around a contentious dispute involving a trust valued at approximately Rs 500 crore, highlighting serious allegations of financial misconduct and governance irregularities within the healthcare sector.
Allegations of Illegal Removal from Trust
In her formal complaint, Japna Singh has accused her sister-in-law, Aditi Singh, who is married to another former promoter, Shivinder Mohan Singh, of orchestrating her illegal removal from the trust. The basis of these serious allegations stems from a comprehensive forensic audit report, known as Project Prism, which was meticulously prepared by a reputable firm of chartered accountants and dated July 10 of the previous year.
Forensic Audit Reveals Systemic Irregularities
The Project Prism report has brought to light numerous systemic irregularities, including the deliberate falsification of official records and coordinated actions that were allegedly aimed at unlawfully altering the membership structure and governance framework of the society. According to the First Information Report (FIR) filed by the EOW, these actions have raised significant concerns about the integrity of the trust's operations.
Substantial Assets and Revenue Streams at Stake
The trust in question, identified as the Flt Lt Rajan Dhall Charitable Society, possesses substantial assets that include critical hospital infrastructure, advanced medical equipment, and a prime plot of land located in the upscale Vasant Kunj area of Delhi. The estimated value of this land alone is around Rs 500 crore, making it a highly valuable asset.
Under a longstanding agreement established in 2013 with Fortis Hospitals Ltd, the society is entitled to receive 15% of the annual surplus revenue generated from hospital operations. This arrangement ensures a regular and significant revenue stream of about Rs 30 crore annually, positioning the society as a financially influential entity within the healthcare landscape.
Complainant's Stakes and Allegations
Japna Singh, as a stakeholder with a vested interest in the society's governance due to her membership, has claimed that she was removed through the falsification and preparation of fraudulent documents, along with other illegal means. She further alleged that several other legitimate members of the society were similarly removed in a coordinated manner, undermining the trust's foundational principles.
The complainant explicitly stated in her allegations, "The criminal motive of the accused behind the removal of myself and other legitimate members from the society's membership is to illegally gain exclusive control over the society's substantial assets and revenue streams, with dishonest and fraudulent intent."
Broader Implications of the Dispute
Japna Singh has asserted that by unlawfully excluding her and other members, Aditi Singh and Shivinder Mohan Singh, along with their family members and associates, sought to usurp control over the society's valuable land holdings worth Rs 500 crore and its annual revenue of Rs 30 crore. This alleged maneuver was aimed at securing personal financial benefits while simultaneously undermining the charitable objectives that the society was originally established to fulfill.
Trigger for Forensic Investigation
The complaint further elaborated that growing concerns over alleged mismanagement, the exclusion of legitimate members, and suspected fraudulent activities prompted the initiation of the forensic audit. The audit uncovered numerous discrepancies, including irregularities in meeting notices, unauthorized venue changes, manipulations of tenure periods, and questionable document submissions.
These identified irregularities are believed to have facilitated the fraudulent exclusion of legitimate members and the subsequent usurpation of control over the society's assets, raising alarms about governance lapses and potential legal violations.
Responses and Ongoing Developments
In response to inquiries regarding the case, Fortis Healthcare has not provided any official comment, maintaining silence on the matter. Additionally, multiple attempts to contact Shiven Varma, the legal representative for Aditi Singh and Shivinder Mohan Singh, have gone unanswered, leaving questions about their stance on the allegations unresolved.
This case underscores the complexities and high stakes involved in corporate governance and trust management within India's healthcare industry, with the Delhi Police EOW now actively investigating the matter to ensure justice and accountability.
