RFL - Latest News Update, Information, Photos & Videos on RFL at Lokmat Times

The FIR is based on a complaint filed by Religare Finvest Limited (RFL)."The FIR is based on a complaint filed by M/s. Religare Finvest Limited (RFL) pertaining to adjustment of their deposits to the dues of M/s. RHC Holding Pvt. Ltd & M/s. Ranchem Pvt Ltd. The same is received at bank's end on 25/09/2019. The Bank is considering appropriate legal measures to counter the same," Lakshmi Vilas Bank said in a BSE filing.In May this year, Religare Enterprises had said that Lakshmi Vilas Bank misappropriated four fixed deposits of Religare Finvest worth Rs 791 crore, which was one of the major reasons for the group entity's financial health."The new management discovered that one of the major reasons for RFL's terrible financial condition was the misappropriation by LVB of monies due to RFL on account of four fixed deposits placed by it with LVB amounting to approx Rs 791 crore (including interest accrued on Rs 750 crore of principal amount)," Religare Enterprises said in a BSE filing.Such misappropriation caused a massive unlawful loss to RFL and consequently to all its stakeholders, including the public shareholders, it added.The filing also said the commercial suit for recovery pending adjudication before the Delhi High Court is reserved for order on an interim application filed by RFL against LVB.Additional Commissioner of Police O.P. Mishra (Economic Offences Wing), Delhi, confirmed to that the case has been registered agt Lakshmi Vilas Bank.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

RflFOLLOW

Rfl, Latest News

National :Delhi police file FIR against LVB in cheating case

The Economic Offences Wing (EOW) of Delhi police on Thursday registered an FIR against directors of the Lakshmi Vilas Bank (LVB) for alleged cheating, criminal breach of trust, criminal misappropriation and criminal conspiracy. ...