Reserve Bank of India denies Religare Enterprises' request to appoint Rakesh Asthana to its board amid opposition from Burman family.
Religare Enterprises Ltd announced that the Reserve Bank of India denied its request to appoint Rakesh Asthana to its board. This decision comes amid a corporate control battle, with the Burman family, holding a 26% stake, opposing his appointment due to alleged lack of mandatory shareholder approval. Religare postponed its annual general meeting, which the Burmans are legally challenging, with a hearing set for November.
October 24, 2024
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