Religare Finvest

The central bank had imposed the conditions on RFL in January 2018 over irregularities observed during the inspection for its position as on March 31, 2017

Religare Finvest ready to restart its business soon, waiting for RBI approval

"We are waiting for RBI to come back to us. Inspections are over, all the formalities are over," Religare Enterprises Ltd (REL) executive chairperson Rashmi Saluja told PTI.

Allotment of 8% shares of Religare Finvest to Rashmi Saluja needs investigation; says Burman family

Burman family had also alleged vested interests are attempting to block their acquisition of a stake in REL, after two senior members were booked in the multi-crore Mahadev app case.

EOW's RFL case: HC grants bail to Malvinder Singh and three others

The Economic Offences Wing (EOW) of Delhi Police had registered an FIR in March, 2019 after it received a complaint from RFL's Manpreet Suri against Shivinder Mohan Singh, Godhwani and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies.

Religare Enterprises shares gain post one-time settlement with lenders

Religare Finvest has completed the entire OTS payment of Rs 2,178 Crore on 8 March, 2023 to all OTS lenders

Religare Finvest case: Sebi orders attachment of bank, demat accounts of Shivinder Mohan Singh, 4 others

The recovery proceedings against these entities -- Shivinder Mohan Singh, Malav Holdings, RHC Holding, ANR Securities and Religare Corporate Services (now known as Finserve Shared Services) -- for Rs 32.10 crore.

Sebi issues Rs 48.15 crore demand notice to Singh brothers, 5 others in Religare Finvest fund diversion case

The case relates to the diversion of funds to the tune of Rs 2,473.66 crore of Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises Ltd (REL), during FY 2014-15 till FY 2017-18

Religare Finvest signs settlement agreement with all its lenders for OTS

RFL has been under a Corrective Action Plan (CAP) since January 2018 due to its weak financial health.

Religare Finvest on track to restart its business; most lenders approve Rs 2,300 crore OTS plan

Once the OTS process is completed, RFL will come out of the Corrective Action Plan (CAP) imposed by the Reserve Bank of India in January 2018 due to its weak financial health.

Religare Finvest fund diversion case: Sebi imposes Rs 60 cr fine on Singh brothers, 8 others

The case relates to the diversion of funds to the tune of Rs 2,473.66 crore of Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises Ltd (REL), during FY 2014-15 till FY 2017-18, in the garb of loans through layers of entities for the ultimate benefits of entities controlled by the erstwhile promoters -- Singh brothers.

Religare Enterprises, Religare Finvest settle case with SEBI; pay Rs 10.5 crore

The order came after the two companies filed an application with SEBI proposing to settle the regulatory violations "without admitting or denying the findings” through a settlement order."

Religare Enterprises says its debt-free, plans foray into 'strategic sectors'

The firm tells exchanges it has repaid Rs 185.50 crore owed to its arm, Religare Finvest Ltd. Religare Enterprises plans to get into asset reconstruction, insurance banking and digital wealth management, among others

Religare Finvest, Fortis Hospital's officials pay over Rs 4.3 crore to settle case with SEBI

An investigation was initiated by SEBI in the matter of Fortis Healthcare Ltd (FHL) after an article published in February 2018 said its promoters have taken at least Rs 500 crore out of FHL and that its statutory auditor had refused to sign off on the company’s second-quarter results until the funds were accounted for.

Wives of Malvinder and Shivinder Singh cheated of crores of rupees by conmen: Report

The Singh brothers have been in Delhi's Tihar jail since October 2019, when they were arrested for allegedly diverting funds worth Rs 2,397 crore from Religare Finvest and its parent company Religare Enterprises.

Delhi HC issues notice to DBS Bank in the Religare deposit fraud case

On 27 November, the Lakshmi Vilas Bank-DBS Bank merger came into effect as per the amalgamation scheme notified by the government and the RBI

Religare Finvest case: 2 Lakshmi Vilas Bank officials held for diverting Rs 729 crore

RFL had placed neraly Rs 750 crore in fixed deposits with Lakshmi Vilas Bank for short-term tenor with intention to keep them free from all and any encumbrance

SAT directs SEBI to pass fresh order in Religare Finvest matter

The order comes following an appeal filed by RFL against an interim order passed by the capital markets watchdog in October 2018 as well as against the confirmatory ruling of Sebi in March 2019.

Religare Finvest case: Delhi Police gets 4-day custody of Singh brothers, others

The Singh brothers have been accused of causing wrongful loss of Rs 2,397 crore to Religare Finvest (RFL).

Religare Enterprises to write-off Rs 794 crore

"The board of directors of Religare Finvest Ltd (RFL), a material subsidiary company...has considered and approved one-time write-off of entire amount of Rs 519.92 crore in the profit and loss account pursuant to non-receipt of dues towards assignment of certain loan accounts by RFL," Religare Enterprises said in a BSE filing.

ABG Shipyard up 5%, Religare Finvest acquires 24.49% stake in co

As per March 2016 shareholding pattern, promoter and promoter group held 38.57 percent stake (2.08 crore equity shares) in the company. Out of which, 2.07 crore shares have been pledged.

Budget should put MSME on high growth path: Kavi Arora

The forthcoming budget is expected to address the key concerns plaguing the MSME sector growth. These include availability of cheaper credit, policy framework for payment recovery, and use of obsolete technology which have been blocking the rise of Indian MSMEs in the international arena.

New NBFC lending norms to cut risks in mid, small cos: IIFL

The Reserve Bank has placed fresh restrictions on the amount that non-banking financial firms (NBFCs) can lend against shares pledged as collateral.

Delinquency rates in comm vehicle segment up in H1: Report

Delinquencies by a number of CV loan accounts that are more than 30 days outstanding have rose to 13 percent from around 11 percent, a growth of 18 percent in the first half of 2013, said credit information service provider Equifax Credit Information Services.

Will meet all RBI norms for banking license: Religare

Shachindra Nath of Religare Enterprises says that their business would be built around the financial inclusion goal of the banking regulator and ensured compliance with all the norms of of the RBI.

Non-bailable warrant issued against DCHL directors

Our correspondent Appaji Reddem says that the Chandigarh-based Sessions Court has issued a non-bailable warrant (NBW) against the directors in a case related to cheques bouncing to the tune of Rs 6 crore.