Religious industries to contact Berman for Fund Infusion, Commission Governance Review

The Director Board of the Director of the Religer Enterprise has decided to contact the company’s new promoters – Burman Group to support the funds immediately after reviewing its cash flow status. On Monday, the filing company announced that the board observed cash flow distance in the next few months.

“To eliminate the funding requirements, the board recommends a short -term inter -corporate loan (ICL) from the promoter group or its allies,” the company said, “the company said,” the company said.

The company’s board has launched a rule review of REL and its supporting companies. Company Filing said that Religioner Finvest Limited (RFL) and Realging Housing Development Finance Corporation Limited (RHDFCL).

“The objective is to review the past operating backing practices, indicate improvements around systems and restrictions for future implementation, and to identify any potential patterns of misbehaving by some of the above companies. To carry out this review, the Director’s Board FIRM.

Relief shares ended at Rs 235.20 on the NSE today, down by Rs 7.25 or 2.99% from Thursday’s closed price.

The Burman family, who runs a Bribe, took the reins of the IL after an 18 -month legal battle. He is the new promoter of Delhi -based Financial Services Company.

Following the transfer of control, ET reported expectations from Burmens for funding in the Pay FIRM with the appointment of a new management team to convert the Relief into a competitive non-banking financial company (NBFC).

Sources said, “The Burman family is likely to introduce Rs 2,000 crore- initially the funds are kept for an open offer to subscribe to preferential shares, making their share more than 50%.” The new promoters are also expected to carry out rebranding exercises, which may include the name of the company and its supporting companies next month to align with the strategic vision of Burman, said those mentioned above.

Read More: In Burman’s driving seat, new name on cards for fresh funds and religious

The conflict between the management and the Burman family has had a significant impact on the company’s affairs. After seven consecutive quarters of profitability since March 2023, the company reported CRORE 63 crore in the quarter ended December 2024.

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