The Railways Enterprises Limited (REL) today informed the stock market that its board of directors has started reviewing the operation of REL and its subsidiaries – Railways Finahs and Railways Housing Development Finance. The Board of Directors has decided to contact the new promoter -Burman group for immediate financial assistance to maintain the company’s operations as the company reviews a review of the company’s money flow indicates that cash flow may be reduced in the next few months.
The Board of Directors of REL has appointed the law -based company Triangle and Grant Thornon India LLP for conduct of the company and its assistant firms. In the information given to the stock market, REL said, “It aims to review the previous functions of operations, suggest reforms related to systems and controls for future implementation and identify any possible sentences of some existing and/or former employees.”
Apart from this, in the information given to the stock market, the company said that its board of directors has reviewed the status of money flow and saw the possibility of cash flow in the next few months. The company said, “After examining various options, the Board of Directors unanimously decided to contact the new promoter Burman Group for immediate financial assistance to maintain the company’s operation.”
Additionally, to meet the requirements of financial assistance, the Board of Directors recommends interim interim -interim corporate loans from the promoter group or its collaborative companies which would be most suitable for the need for the need. The Burman family, the founder and controlled stakeholder of the consumer commodity sector Group Dabur India – had gained control of the financial services provider Railigare in February after a 17 -month battle of acquisition.
First Published – March 17, 2025 | 10:44 pm IST