Shivinder Singh vs Malvinder Singh: This is how company was debt trapped
In a petition, seen by DNA Money, Shivinder Singh had alleged that Malvinder and Godhwani used Religare Enterprises Ltd (REL), a non-banking financial company, to borrow the money from public and "pushed this company into debt trap".
Shivinder alleged that the payment did not help RHC instead led to value erosion of wealth and pushed into a debt trap. In 2017, ICDs turned as a hurdle for negotiation. Image source: DNA