Analjit Singh, founder and chairman of the Max group, and his estranged wife Neelu Singh have reached a global settlement in a three-year long dispute.
Consequently, all the suits/petitions filed in the Delhi High Court and before the NCLT against Max Ventures Investment Holdings Private Limited, its directors and Analjit Singh were duly withdrawn and stand disposed off, a regulatory filing said.
The Max Group founder's estranged wife Neelu Analjit Singh had filed a petition before the National Company Law Tribunal in 2022 alleging "diversion and siphoning off of funds by her husband from a group holding company."
She had also sought an investigation into the affairs of Max Ventures Investment Holdings Pvt Ltd and a direction from the NCLT to declare Analjit Singh unfit to be a director and shareholder of the company.
"Apart from being downright untruthful, what is even more anguishing is the agenda with which these reports have been encouraged and planted while the matter is sub judice,” a statement put on BSE by Max quoting Analjit Singh had stated.
Max Ventures Investment Holdings Private Limited is an unlisted promoter entity with shareholding in the listed entities Max Financial Services, Max India and Max Ventures & Industries Limited in the NCLT.
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