Religare Finvest to divest housing finance arm to parent, Real Estate News, ET RealEstate
Religare Finvest (RFL) plans to transfer its stake in its home finance arm Religare Housing Development Finance Corporation to its parent Religare Enterprises (REL) as part of its efforts to come out of the restrictions placed by the RBI.
The company is also actively pursuing the recovery of corporate loans and the fixed deposits from erstwhile Lakshmi Vilas Bank, which were fraudulently withdrawn by former promoters.
On March 8, RFL completed a one-time settlement with the secured lenders by making a settlement payment of Rs 218 crore.
