A Battle for Control
Rashmi Saluja, the executive chairperson of Religare Enterprises, is facing a challenge to her leadership from the Burman family, the leading shareholder of the company. The Burmans have accused Saluja of insider trading and corporate governance lapses, and are seeking majority control of the company.
Saluja, however, is confident of her performance and has the full support of the board. She denies the allegations against her and points to her successful turnaround of the company. She also highlights the efforts made by her team to overcome challenges faced by other lenders and financiers.
The independent directors of Religare have also leveled allegations of fraud and other breaches against the Burmans with various regulatory authorities.
The outcome of this battle for control remains uncertain. However, it is clear that both sides are determined to fight for their interests.
The Burman family is seeking majority control of Religare Enterprises.
They have accused Saluja of insider trading and corporate governance lapses.
Saluja denies the allegations and has the support of the board.
The independent directors of Religare have also leveled allegations against the Burmans.
The outcome of the battle for control remains uncertain.