Allegations, counter-allegations and the registering of an FIR against the promoters suggest REL has still not overcome its problems even though it has limped back to normal after the crippling Singh brothers controversy blew up nearly four years ago.
In an email sent to Sebi and bourses on November 8 that has been reviewed by ET, four entities - MB Finmart, Puran Associates, VIC Enterprises and Milky Investment and Trading Co - that collectively hold 21.24% in Religare said Sal chairperson Rashmi Saluja sold a portion of her personal holdings in the firm soon after a meeting with a representative of the Burmans.
Entities controlled by the billionaire Burman family, the largest shareholders of Religare Enterprises Ltd, have written to the Securities and Exchange Board of India (Sebi) and stock exchanges, seeking a probe into trades in the shares of the financial services firm by chairperson Rashmi Saluja.
The Burmans’ accusations come after reports of Religare independent directors levelling allegations of fraud and other breaches against the Burmans emerged on Thursday.
In the wake of the Burman family office's acquisition of a majority stake in Religare Enterprises (REL), Dabur India Chairman Mohit Burman clarified in a video call on Thursday, 9 November 2023, that