Recall loans to Singh bros: Sebi to Religare

Mumbai:

Sebi

has asked

Religare

Enterprises and its subsidiary Religare Finvest to recall loans, amounting to Rs 2,315 crore, which were extended to group companies or firms associated with its promoters

Malvinder

and Shivinder Singh. Sebi also ordered an investigation of the fund diversion in this case “to find out the role of each entity in the alleged routing of funds”.

Sebi asked the companies and the

Singh brothers

not to dispose any assets till the investigations are complete. They have also been asked not to divert any funds, except for meeting expenses of day-to-day operations, without the prior permission of Sebi. These companies and the brothers have also been ordered not to associate themselves with Religare Enterprises and Religare Finvest.


Stay informed with the latest Business News on Times of India. Explore the list of Bank Holidays, stay informed about Budget 2025, discover the new Income Tax Slabs, and use the Income Tax Calculator for hassle-free tax planning.

Unlock Investment Potential: Enroll in ET's Stock Valuation Workshop - Batch 3. Secure Your Spot Now!