Diabytes
Religare Enterprises Limited News
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RFL suffered a wrongful loss of Rs 2397 crores as a result of these entities' deliberate default on repayments.
This was also pointed out and identified by RBI and SEBI during their independent audit.
Later, it was discovered that the land held as security with RFL under the facility agreements had been swapped without RFL's authorization or knowledge.
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Religare Enterprises has narrowed its standalone losses to Rs 18.06 crore in third quarter ended December 2014.
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