Police in India have arrested two businessmen brothers over alleged embezzlement of more than £265 million from a financial services company.
Shivinder Singh and Malvinder Singh, former promoters of the pharmaceutical giant Ranbaxy, were arrested by the economic offences wing of the Delhi police on Thursday evening and have been charged with cheating, criminal conspiracy and criminal breach of trust.
They deny the charges.
Financial service firm, Religare Finvest, had filed a complaint alleging that the brothers had embezzled money it had loaned to companies related to them or their associates.
The police said the firm gave corporate loans to companies which were owned by the brothers and other executives. The money was then used to pay off existing liabilities of the companies.
The Singh brothers and the three company executives are expected to appear before court on Friday.
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