Religare Enterprises on Thursday said it has changed the name of its health insurance subsidiary to Care Health Insurance
The transaction is subject to necessary statutory and regulatory approvals and fulfilment of other conditions precedents
Tribunal pulls up Sebi for passing contradicting orders
Besides Malvinder, the court remanded Sunil Godhwani, former CMD of Religare Enterprises Ltd, to the judicial custody till December 12
Besides Malvinder, Delhi High Court also remanded Sunil Godhwani, former CMD of Religare Enterprises Ltd, to ED's custody till November 28
The ED had arrested Singh and Godhwani in the money laundering case on November 14
ED took the accused in its custody inside the Tihar central jail here
Japanese drug major Daiichi Sankyo has been fighting a prolonged legal battle with the Singh brothers
The Saket district court directs Singh brothers' production on Wednesday, gives time till 2 p.m. to talk to REL, RFL
Chief Metropolitan Magistrate Deepak Sherawat took note of the submission and issued production warrant for the accused persons for Tuesday
RFL is a subsidiary of the REL. Shivinder and his elder brother Malvinder were earlier the promoters of REL
The misappropriation came to light after an independent forensic audit was conducted by the new board
REL in July 2019 had signed a binding term sheet with TCG Advisory Services to sell its NBFC and housing finance businesses
ED is learnt to have summoned Singh brothers along with close associate N K Ghoshal
RFL has an asset base of Rs 7,000 crore, which includes Rs 4,500-crore SME loan book
Shares of Religare Enterprises traded 9.99% higher at Rs 42.95 apiece on the BSE
Between July 5 and today, the stock has rallied 51% from a level of Rs 28.50 apiece. In comparison, the S&P BSE Sensex has lost 2% during the same period
The warrants will be issued to a number of entities on a preference basis
The company said this acquisition will help it expand its geographical reach and distribution footprint and almost treble the client base
On NSE, shares of the company jumped 10 per cent to close at Rs 46.20