Religare board initiates review, seeks funds from Burmans

RELIGARE ENTERPRISES (REL) on Monday said it has commissioned a governance review of the company and subsidiaries, Religare Finvest and Religare Housing.

- FE BUREAU

RELIGARE ENTERPRISES (REL) on Monday said it has commissioned a governance review of the company and subsidiaries, Religare Finvest and Religare Housing. It has also sought immediate funds from its promoters — the Burman family — to sustain operations.

"The objective is to review the past operating practices, suggest improvements around systems and controls for future implementation and to identify any potential instances of misconduct by certain current and/or ex-employees of the aforementioned companies," the firm said in an exchange filing.