State Bank of India (SBI), a key lender to Religare Finvest Limited (RFL), has expunged RFL s record, previously marked as a fraud, from the Central Fraud Registry database. This action follows a court order dated December 18, 2023, issued by the Delhi High Court instructing SBI to revoke the fraud
The Essel Group is promoted by media baron Subhash Chandra and owns stake in leading media and entertainment companies which includes - Zee Entertainment Enterprises Ltd, Zee Media Corporation and Dish TV.
The probe is based on an FIR registered by EOW, Delhi Police, in which Religare Finvest Ltd (RFL) made allegations against four companies of hatching a criminal conspiracy and causing wrongful loss to RFL by defaulting on a loan of Rs 150 crore.