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The Delhi High Court had ordered the removal of the ‘fraud’ tag from RFL after it had filed a writ petition with respect to declaration of RFL’s account as ‘fraud’ exposure by the lead bank. ....
The probe is based on an FIR registered by EOW, Delhi Police, in which Religare Finvest Ltd (RFL) made allegations against four companies of hatching a criminal conspiracy and causing wrongful loss to RFL by defaulting on a loan of Rs 150 crore. ....
The release issued by the CCI regarding the stake purchase clearly stipulates that the "approval is without prejudice to the proceedings that may be initiated under Section 43A, 44 and/or 45 of the Competition Act, 2002", a Religare Enterprises spokesperson said. The spokesperson said it was in connection with the combination notice issued by the acquirers forming part of the Burman Group in relation to the open offer to the shareholders of Religare Enterprises. ....
The short-term trend of Nifty remains choppy. Having faced weakness after a small rise on Saturday signalled a weak bias for the market ahead. At the higher levels, the market could encounter strong overhead resistance around 21,750-21,850 levels and on the downside it could find support around 21,300 levels in the near term, said Nagaraj Shetti of HDFC Securities. ....
Having declined sharply, there is a possibility of a pullback rally in the short term, which is expected to be a ‘sell on rise opportunity. Important resistance to be watched at 21,700-21,800 levels. ....