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‘Karma’ Catches Up With One of India’s Most Storied Families

  • Singh brothers, three others accused of a $337 million fraud
  • Malvinder and Shivinder Singh arrested, sent in police custody
Shivinder Singh
Shivinder Singh

Photographer: Prakash Singh/AFP via Getty Images

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The tumultuous saga of former Indian billionaires Malvinder and Shivinder Singh seems to be entering a decisive stage.

Scions of one of the nation’s most prominent business families, the Singh brothers were arrested Thursday and brought into a New Delhi trial court Friday to face charges of fraudulently diverting nearly $337 million from a lender they controlled. The arrests send a signal that even the nation’s elite won’t be spared as India gets increasingly vigorous in its crackdown on delinquent borrowers.