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Former Religare chief alleges Singh brothers conspired against him

Shivinder Singh, Malvinder Singh
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Former chief of Religare Enterprises Sunil Godhwani has alleged conspiracy of the company’s current management and erstwhile promoters Malvinder Singh and Shivinder Singh against him.

In a submission to the corporate affairs ministry, he also said that an investigation should be started into the management change that happened in February 2018.

The ministry had sought a response from Godhwani on a complaint filed against him in the case of Religare Enterprises, which is under the scanner for alleged financial irregularities.

Religare Enterprises Ltd (REL) and Religare Finvest Ltd (RFL) have filed a complaint against him.

In the submission, Godhwani has claimed that the complaint is part of a conspiracy hatched by the current management out of their ulterior motive to cover up their nexus between the erstwhile promoters and the majority shareholder of the company.

Last year, the Singh brothers had blamed him for the troubles faced by the group.

Godhwani, who is also under the lens, stepped down as the chairman and MD in July 29, 2016. He, then assumed charge of the CEO at Religare Enterprises and later quit.

Source: Business Standard