Businessman Malvinder Singh has alleged that spiritual leader Gurinder Singh Dhillon used part of the proceeds from Ranbaxy stake sale to buy properties across the country, reported Mint.

As per the report, RHC Holding Pvt. Ltd, the holding company controlled by brothers Malvinder and Shivinder Singh, granted loans worth Rs5,482 crore to Dhillon’s family members, associates and various entities controlled by them.

Singh, in a complaint filed with the Economic Offences Wing of Delhi Police last month, said that these funds were used to purchase bungalows, farmhouses and buildings.

Singh also alleged that Dhillon, the spiritual head of Radha Saomi Satsang Beas, invested the fund in commercial properties, including a prime 260,000 sq. ft land in Delhi (near the Select Citywalk mall), 80,000 sq.ft of property in Ahmedabad, 500,000 sq.ft of land in Noida, three farmhouses in Asola and 20 acres of land in Gurgaon, said the report.