Recent revelations that Dr. Saluja sold Religare shares after meeting a Burman family representative just before the open offer was announced could have two serious consequences.
The Burmans recently announced their intentions to acquire a majority stake in Religare through an open offer. Current management seems to be in no mood to let go of control. With multiple regulatory clearances due, the takeover could be a long drawn affair. Amid all this, Ventura Securities report pegging the share price target at INR471, has ruffled feathers.
Religare Enterprises Ltd. in collaboration with Care Health Insurance Ltd and Sir Ganga Ram Hospital organised a conclave on the eve of World Health Day.
The RFL unit contested lenders' decision to classify its loans as fraudulent, arguing that the firm was a victim of fraud perpetrated by its former management.