Singh Brothers step down as Sunil Godwani becomes CMD of Religare

Singh Brothers step down as Sunil Godwani becomes CMD of ReligareMulti-interest financial services group Religare Enterprises restructured its top management, the company informed in a press meet on Tuesday. As per the announcement, the company has appointed Sunil Godwani as its new Chairman and Managing Director as present Chairman Malvinder Mohan Singh stepped down.

Malvinder’s brother Shivinder too stepped down today from his position as a member of Religare’s board. Sachindra Nath would be the new Chief Executive of the company, Religare’s press statement revealed.

As per the firm, while Shivinder would closely associate himself with Fortis Healthcare to take it to a new height as a world class healthcare institution, Malvinder would now focus on the newly acquired Parkway Holdings as the Chairman of the company.

The Singh family had brought nearly 23.9 per cent stake in Singapore’s Parkway Holdings last month under the Fortis banner for $685.3 million. This, considered as the largest deal in Indian healthcare domain, allowed Fortis to have four members in Parkway’s board and Malvinder to become the Chairman of the company. Parkway at present is one of the top healthcare service providers in Asia.