Religare Enterprises’ arm Religare Finvest (RFL) has defaulted on interest payment to the bond holders due on February 25 due to asset liability mismatch arising out of siphoning and misappropriation of funds by erstwhile promoters of its parent company Religare Enterprises.
RFL defaulted on interest payment for an amount of Rs 96,00,000 (Rs 0.9600 crore) towards non-convertible debentures (NCDs) due on February 25, 2022.
Religare Enterprises is one of India’s leading diversified financial services groups. It offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
