Sebi issues Rs 48.15 cr demand notice to Singh brothers, 5 others in Religare Finvest fund diversion case
The diversion of funds was never disclosed to the shareholders of REL, which misled them to remain invested in the shares of REL or deal in the securities of REL. Thus, the apparent diversion of funds led to indirect manipulation of the price of shares of REL, Sebi said in its order.
