Malvinder and Shivinder Singh. Photo: HT
Malvinder and Shivinder Singh. Photo: HT

NCLT issues notices to Malvinder Singh, directs status quo over RHC Holdings

NCLT also allowed both parties, Shivinder Singh and his wife Aditi Singh and the other party Malvinder Singh, to inspect documents and take photocopies of the records of RHC Holdings

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

The tribunal also allowed both parties, Shivinder Singh and his wife Aditi Singh and the other party Malvinder Singh, 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 Malvinder Singh, Godhwani and others on Shivinder Singh’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 the law," the tribunal said.

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

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

Former Fortis Healthcare promoter Shivinder Mohan Singh had moved the NCLT to remove his elder brother Malvinder from the board of RHC Holdings, alleging “blatant acts of mismanagement" by him and also sought reconstitution of the board of the company.

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Shivinder Singh in his petition had alleged “illegal and unlawful manipulation of records" of RHC Holdings, including forging of signature of his wife Aditi Singh, while asking the NCLT to declare that Malvinder and Godhwani caused grave prejudice to the interest of the company by acting in “collusion with each other".

The younger brother had also requested the tribunal to allow him or his authorised representatives to inspect the statutory records of RHC Holdings and taking copies thereof.

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