RHC Holdings: NCLT issues notice to Malvinder, Godhvani

Team Udayavani, Sep 7, 2018, 6:21 PM IST

New Delhi: The National Company Law Tribunal (NCLT) on Thursday issued notices to Malvinder Mohan Singh, ex-Religare chief Sunil Godhwani and others, and also directed to maintain status quo over the shareholdings and composition of RHC Holdings board after the plea of younger brother Shivinder Singh.

The tribunal also allowed both parties — Mr. Shivinder and his wife Aditi Singh — and the other party — Mr. Malvinder — to inspect documents and take photocopies of the records of RHC Holdings. A two-member bench headed by NCLT President Justice M.M. Kumar issued notices to Mr. Malvinder, Mr. Godhwani and others, after Mr. Shivinder’s petition over alleged “oppression and mismanagement” of RHC Holdings. “We allow both parties to access, examine records. They can also take photocopies in accordance with law,” the tribunal said.

Rejoinder sought

The tribunal also directed Mr. Malvinder and other respondents to file their replies within 10 days and sought a rejoinder from Mr. Shivinder in two weeks.

The NCLT has posted the matter to October 9 for the next hearing.

Mr. Shivinder, a former Fortis Healthcare promoter, had moved the NCLT to remove his elder brother Mr. Malvinder from the board of RHC Holdings alleging “blatant acts of mismanagement” by him and also asked to reconstitute the board of the company.