Religare Finvest fund diversion case: SEBI slaps Rs 21 crore fine on 52 entities including Fortis Healthcare Holdings
New Delhi: Capital markets regulator Sebi has imposed a fine totalling Rs 21 crore on 52 entities, including Fortis Healthcare Holdings, in a case pertaining to the massive diversion and misutilisation of funds of Religare Finvest, an arm of Religare Enterprises.
They have been asked to pay the fine within 45 days, according to an order passed by the Securities and Exchange Board of India (Sebi) on Monday.
Such a huge diversion and misutilisation of funds of RFL in which REL held 85.64 percent stake and which contributed 57 percent of the consolidated revenue of RFL as on March 31, 2018 definitely abuses the assets of a listed company, and in turn, also affects the investors, it added.
Medical Dialogues Team had earlier reported that Economic Offence Wing of Delhi Police had arrested former Managing Director and Chief Executive Officer of Religare Enterprise Limited (REL) Sunil Godhwani for his alleged involvement in a forgery case amounting to Rs 757 crores.
Read also: Religare Enterprise former MD held in Rs 757 crore forgery cas
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