Page 2 - Religare Finvest

Religare Finvest debt recast at final stages; NBFC to reboot in January

The company has been in financial distress due to alleged misappropriation of funds by erstwhile promoters Shivinder Singh and his brother Malvinder Singh

REL to invest over Rs 100 cr in broking, housing finance business

REL has four key businesses Religare Finvest Limited (RFL) for SME finance, Care Health Insurance Limited (CHIL) - health insurance, Religare Broking Ltd (RBL) and Religare Housing Development Finance

Religare Finvest's revised debt restructuring plan enters final stage

RFL, an NBFC arm of Religare Enterprises Ltd, has been barred from undertaking fresh business

Religare Finvest to default on Rs 100 crore NCD payment obligation

Religare Enterprises on Wednesday said its arm Religare Finvest Limited will default on Rs 100 crore NCD payment obligation later this month to subscriber Axis Bank

Lakshmi Vilas Bank comes under Sebi scanner for 'insider trading'

Based on an exchange's surveillance report, the regulator is examining trading in the scrip between 2018 and 2019

Religare: Delhi HC seeks Shivinder's reply on plea challenging his bail

he high court listed the matter for further hearing on November 11

Worst is behind, will complete RFL debt recast by Dec: Religare chairperson

The company has been in financial distress, primarily due to alleged misappropriation of funds by erstwhile promoters Shivinder Singh and his brother Malvinder Singh

Will recover money from LVB, officials won't be pardoned: Religare chief

Religare Enterprises has said its NBFC arm Religare Finvest will be able to fully recover its fixed deposits, with an interest, of around Rs 950 crore from debt-ridden Lakshmi Vilas Bank

Lakshmi Vilas Bank shortlists 3 names for MD, CEO post; to send list to RBI

The lender's chief executive S Sundar and six other directors were voted out by shareholders earlier this week

RBI sounds out PNB on acquisition of beleaguered Lakshmi Vilas Bank

Beleaguered bank is currently in merger talks with Clix Capital

Clix may seek indemnity from Lakshmi Vilas Bank's dues ahead of deal

It is estimated that about Rs 700 - 900 crore of likely liability may hit the bank

Economic offences weaken democracy, says HC, dismisses Malvinder's plea

The high court rejected Malvinder's plea challenging the criteria laid down by the high powered committee for granting interim bail to under trial prisoners on the ground of prevalence of the Covid-19

Religare case: SC stays bail granted to ex-Fortis promoter Shivinder Singh

The high court on July 23 granted bail to Singh, saying it does not perceive any grave threat to the interests of the society or the public at large with his release

RFL case: Malvinder to remain in jail as Delhi court dismisses bail plea

Chief Metropolitan Magistrate Gurmohina Kaur on Monday rejected Singh's bail application on the ground that he was required to be kept in judicial custody for proper investigation in the case

Malvinder Singh tells court he paid back alleged misappropriated funds

The submission was made before Chief Metropolitan Magistrate Gurmohina Kaur during hearing of arguments on the bail plea moved by Singh in the case lodged by the EoW of Delhi Police

Religare Finvest proposes a resolution plan for Rs 5,852 crore of debt

According to the plan, of the Rs 5,852 crore, around Rs 2,700 crore is sustainable debt and will be serviced by the SME portfolio

Religare Finvest gets relief from appellate tribunal in fund diversion case

Tribunal pulls up Sebi for passing contradicting orders

Pass fresh order in Religare Finvest's fund diversion matter: SAT to Sebi

SAT has directed RFL to maintain its assets worth Rs 200 crore for a period of three months

Religare Finvest case: ED files charge sheet against Singh brothers

Religare said in a statement that ED's move vindicates its claim that the erstwhile promoters and Godhwani were at the helm of affairs when the frauds were committed

Religare Finvest's lenders may take a 49% haircut on Rs 58-billion debt

Any debt restructuring at Religare Finvest, which is being bought by TCG Advisory Services, would be the first among peers since the credit market squeeze started in 2018