 "Religare")
Religare Finvest Ltd’s (RFL) debt restructuring has hit a hurdle after the Reserve Bank of India informed that the plan can’t proceed with Religare Enterprises Ltd continuing as promoter since RFL exposure is treated as “fraud”.
Religare Enterprises in a filing with the BSE said that RFL had represented to RBI regarding wrongful classification of it's account as “fraud”. RFL is in the process of taking suitable measures in this regard.
ALSO READ: Religare Finvest debt recast at final stages; NBFC to reboot in January
ALSO READ: Religare Finvest debt recast at final stages; NBFC to reboot in January
According to India Ratings on RFL, there have been continued delays in debt
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