Religare Enterprises on Thursday announced that Rashmi Saluja is no longer the director of the company. In a regulatory filing today, Religare Enterprises said, “Dr Rashmi Saluja, Executive Chairperson of the company ceases to be the Director of the company”, due to “failure to receive requisite votes on the resolution for re-appointment of retiring Director in the Annual General Meeting.
The decision was taken after a clarification on the same was sought from the Reserve Bank of India seeking guidance of the applicability of the regulation on whether the prior permission will be required in the instant case. Response from the RBI was received today i.e. February 13, 2025.
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Rashmi Saluja ceases to be non-independent director with effect from February 7, 2025, the company stated in the exchange filing.
Since the company is a Non-Banking Finance Company, it is therefore governed by the RBI regulations besides the Securities and Exchange Board of India (SEBI) as it is a listed entity.
The exit of Rashmi Saluja comes amid Burman’s open offer to acquire an additional 26 per cent stake in the company.
Last week, at the company AGM, over 97 per cent of Religare Enterprises’ shareholders had rejected Saluja’s reappointment as the chairperson and director of the company, though she had sought to stop discussions on that agenda.
Shares of Religare Enterprises were up by 2.09 per cent at 6:30 pm at a trading price of Rs 239.00.
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