Religare sues Lakshmi Vilas Bank to recover â¹800 cr deposits
A Religare Enterprises' arm has sued a Delhi branch of Lakshmi Vikas Bank to recover fixed deposits worth nearly â¹800 crore. The lender had invoked the deposits to recover loans to Religare founders Malvinder Singh and Shivinder Singh, who are facing allegations of financial irregularities. "As per legal opinion received...the adjustment of deposits against loans are lawful," the bank said.