Business Standard

Religare Finvest duping public to cover up huge fraud: Lakshmi Vilas Bank

Lender says it will cooperate with probe agencies and regulatory authorities to expose RFL's attempt to shield its own office bearers, who LVB claims perpetrated the fraud

lakshmi vilas bank

Lakshmi Vilas bank

T E Narasimhan Chennai
A day after it stated that the Economic Offences Wing, Delhi registered a First Information Report (FIR) against the lender and its board members, Lakshmi Vilas Bank (LVB) alleged that Religare Finvest Limited (RFL) was attempting to mislead the public to cover up a massive fraud by its own promoters, employees and group companies.

The bank said it would cooperate with the investigating agencies and regulatory authorities in order to expose RFL's attempt to cover up the fraud.

The FIR, filed against the directors of LVB and other parties under the Indian Penal Code, was based on a complaint by

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 27 2019 | 6:13 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to