No stay on Religare's â¹500cr investment in Religare Capital
The National Company Law Tribunal (NCLT) declined a plea by India Horizon Fund for an interim stay over Religare Enterprises' move to invest up to â¹500 crore in its subsidiary Religare Capital Markets. The stay was sought on grounds of mismanagement and oppression of minority shareholder. However, only shareholders having a minimum 10% stake can approach NCLT on such grounds.