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The court made the observation while granting bail to former Fortis Healthcare promoter Shivinder Mohan Singh. The ED had argued against granting bail to Singh.
The 2 life insurance firms are keeping money in stocks despite selling by foreign funds due to the coronavirus-led wave of risk aversion.
Gurinder Singh Dhillon leads the Radha Soami Satsang Beas, which boasts of a 20-million-strong following across 90 nations.
The Singh brothers are accused of multiple cases of siphoning money using a complex web of companies, including Ranbaxy, Religare & Fortis.
Shivinder has accused his brother of 'systematic undermining of the interests of the companies and their shareholders'.