Religare board commissions governance review, seeks funding from Burmans 

MUMBAI: Diversified financial firm Religare Enterprises Ltd (REL) on Monday said its board is seeking a governance review of the company and its two units. The board has also approached the Burman family, the new promoter of the company, for funding support.

 “…the Board of Religare Enterprises Limited has commissioned a governance review of REL and its subsidiaries, namely, Religare Finvest Limited and Religare Housing Development Finance Corporation Limited… For conducting this review, the Board of Directors have resolved to engage a law firm M/s Trilegal who would be assisted by M/s Grant Thornton Bharat LLP.” said Religare in a regulatory filing. 

The objective, as per the company, is to review the past operating practices, suggest improvements around systems & controls for future implementation and to identify any potential instances of misconduct by certain current and/or ex-employees of the aforementioned companies.