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Sebi directs RFL, REL to recall loans worth over Rs 2,300 crore from Singh brothers, 21 other entities

Updated : March 15, 2019 09:23 AM IST

Religare Finvest Ltd (RFL) is a subsidiary of Religare Enterprises Ltd (REL). At the end of December 2018, the Singh brothers were among the promoters of REL.
Noting that a detailed investigation of the fund diversion is necessary to find out the role of each entity in the alleged routing of funds, Sebi said remedial action needs to be taken to protect the interest of shareholders.
Sebi directs RFL, REL to recall loans worth over Rs 2,300 crore from Singh brothers, 21 other entities

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