The business restructuring comes as the Singh brothersMalvinder Singh (left) and Shivinder Singhhave been attempting to sell assets in order to pare debt at their main holding company RHC Holding. Photo: HT
Mumbai: Two companies controlled by tycoons Malvinder and Shivinder Singh announced a reorganization as the brothers wrestle with debt and legal tangles.
The Singh brothers Religare Enterprises Ltd announced a shakeup late on Tuesday, with Malvinder Singh stepping down as non-executive chairman of the financial services and small-business lender while four other officials also resigned.
Separately, another Singh holding, Fortis Healthcare Ltd, offered to buy the assets of its Singapore-listed RHT Health Trust as part of a broader reorgan…
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