 "Religare")
Religare Enterprises (REL) and Religare Finvest (RFL) have filed a complaint against former Fortis promoters, Shivinder and Malvinder Singh, and Sunil Godhwani under the Companies Act provisions with the Ministry of Corporate affairs.
The complaint stated that RFL had sanctioned loans to companies known to the Singh brothers but were never repayed. The loans stand at Rs 23.97 billion, with Rs 4.15 billion as interest to 19 entities, adds the complaint reviewed by Business Standard. The complaint has been filed under Sections 210, 212, and 447 of the Companies Act.
These Sections pertain to fraud, non-convening of the annual
The complaint stated that RFL had sanctioned loans to companies known to the Singh brothers but were never repayed. The loans stand at Rs 23.97 billion, with Rs 4.15 billion as interest to 19 entities, adds the complaint reviewed by Business Standard. The complaint has been filed under Sections 210, 212, and 447 of the Companies Act.
These Sections pertain to fraud, non-convening of the annual
