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In an interview with The Economic Times, Saluja said that she has the full support of the board and is proud of her turnaround credentials, the results of which are evidenced by what she described as a tough phase for non-bank lenders.
"I may have agreed that five years ago, I didn t have the experience, but after five years, three successful businesses, a company turnaround and a great team and board to support me, I will not back down," Saluja told ET in an interview. "Any allegations of corporate governance against the board and the management are directly reflected toward the regulators. Our naysayers need to understand that."
Corporate watchers said the decision by shareholders is significant given that the Burmans have announced an open offer to acquire an additional 26% of Religare s equity, a move opposed by the company s management. Currently, Religare does not have founder shareholders and is owned by the public.