Religare Enterprises challenges tagging of RFL as fraud account by lenders : Rashtra News #Religare #Enterprises #challenges #tagging #RFL #fraud #account #lenders Financial services firm Religare Enterprises Ltd on Tuesday said it has challenged lenders' tagging its debt-ridden subsidiary Religare Finvest Ltd (RFL) as a fraud account. RFL, a non-banking financial company of Religare Enterprises
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"Subsequent to the passing of enabling special resolution by the shareholders of RFL with respect to Item No 5 , RFL has not placed any proposal with NRC till date for grant of above mentioned ESOPs to CMD. Since no new shares were issued/allotted in the matter, there is no contravention of the Reg 26 (6) of the SEBI Takeover Regulations," the company said in a statement.
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The development comes after Burman family, the promoter of Dabur India, announced Rs 2,116 crore open offer to the shareholders of REL to acquire up to an additional 26 per cent stake in the company