trending Market Intelligence /marketintelligence/en/news-insights/trending/6dYmUVESlNDXXGJNI19z5w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Religare Finvest files insolvency petition against former shareholders

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

The Evolution of ESG Factors in Credit Risk Assessment: Environmental Issues


Religare Finvest files insolvency petition against former shareholders

India-based Religare Finvest Ltd. filed an insolvency petition with the country's National Company Law Tribunal, accusing former shareholders Malvinder Singh and Shivinder Singh of diverting funds, The Economic Times reported Feb. 22.

The company claimed 22.57 billion rupees from the Singhs, alleging they used a cluster of 19 companies to siphon off loans. The petition will be heard by the NCLT in early March, according to two people with direct knowledge of the matter.

The NCLT is a quasi-judicial body in India that adjudicates issues relating to Indian companies.

As of Feb. 22, US$1 was equivalent to 71.09 Indian rupees.