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Business News/Topic/    Religare Vs Burmans

THE BATTLE TO CONTROL RELIGARE

Hostile takeovers are rarely straightforward. But even the most drawn-out sagas rarely have the drama and type of allegations that we have seen from the ongoing tussle between the Burman family and Religare. The Burmans have a stake across industries: insurance, brokerages, and of course, FMCG. Religare's growth in the financial services sector — health insurance, to be specific — is enviable. It's little wonder that the Burmans would like to invest in and grow that business. But Religare's board, and its chairperson Dr. Rashmi Saluja, were left disappointed with the Burmans' initial offer. What ensued was a constant back-and-forth between the two vying parties. The Burmans have alleged that Saluja committed fraud after they initiated takeover proceedings, a matter that the markets regulator will have to investigate. Read Mint's coverage of the entire transaction, from a newsroom that has stayed on top of all the developments.
Religare currently has a market capitalization of around ₹7,700 crore. (Bloomberg) Premium

What next for the Burmans now that they have won the battle for Religare

6 min read . 17 Feb 2025
Sebi’s rejection of the US-based Digvijay 'Danny' Gaekwad's counteroffer to the Burmans' open offer is not wrong as the regulator acted according to its regulations. (Bloomberg) Premium

Religare takeover battle: Courts must trust regulators' wisdom

6 min read . 13 Feb 2025
Rashmi Saluja, executive chairperson of Religare Enterprises. She had no background in financial services before being asked to head the board. Premium

Religare directors nudge company secy to act; Saluja moves HC

3 min read . 11 Feb 2025
A two-judge bench of the Delhi High Court on Thursday dismissed Religare Enterprises Ltd's chairperson Rashmi Saluja's appeal seeking a stay on an earlier single-judge bench's order that had denied her request to restrain the company's board from voting on her reappointment as director. Premium

Rashmi Saluja's bid to extend her stay at the helm of Religare faces a big jolt

3 min read . 06 Feb 2025
Rashmi Saluja, chairperson and CEO, Religare Enterprises Ltd. Premium

Takeover twist: Now, Rashmi Saluja sues Religare

5 min read . 31 Jan 2025
Religare chairperson Rashmi Saluja has moved the high court to block a shareholder vote. Premium

Two Religare directors criticise haste in revealing Gaekwad bid; Saluja moves HC

4 min read . 30 Jan 2025
The Burman family had first expressed interest in acquiring a controlling stake in Religare Enterprises in September 2023. They also have been pushing for the removal of Religare chairperson Rashmi Saluja. (Bloomberg) Premium

Religare saga takes a fresh twist with the entry of a mystery Bangkok investor

4 min read . 28 Jan 2025
Digvijay Danny Gaekwad, Indian-born American businessman. Premium

Danny Gaekwad’s open offer for Religare unlikely to pass muster with Sebi

6 min read . 27 Jan 2025
Danny Gaekwad, an influencial Baroda-born US entrepreneur. (dannygaekwad.com) Premium

Who is Danny Gaekwad—the US tycoon taking on Burmans’ open offer for Religare?

3 min read . 26 Jan 2025
Religare's AGM was scheduled for 31 December. Premium

Key investors question PIL that led to HC stay on Religare AGM

5 min read . 30 Dec 2024
Rashmi Saluja, executive chairperson of Religare Enterprises. She had no background in financial services before being asked to head the board. Premium

Proxy advisors call for Rashmi Saluja's ouster from Religare; co backs her

3 min read . 22 Dec 2024
Religare owns 63% in Care Health Insurance, which is regulated by Irdai. (Bloomberg) Premium

Burmans now a step closer to Religare, but there's more to go

5 min read . 25 Oct 2024
Nitin Aggarwal was appointed group CFO of Religare Enterprises. Premium

Religare CFO Nitin Aggarwal said to have quit, company yet to notify exchanges

2 min read . 27 Aug 2024
Three institutional shareholders said they were unhappy with Religare's decision to postpone the AGM, especially since the company has given no explanation. Premium

Religare upsets investors by delaying AGM

3 min read . 25 Aug 2024
Rashmi Saluja, chairperson of Religare Enterprises has allegedly failed to comply with securities laws. Premium

Mint Explainer: Why did Sebi issue notice to Rashmi Saluja, Religare board?

4 min read . 20 Jun 2024
Rashmi Saluja is non-executive chairperson of Care Health Insurance, and executive chairperson of its parent REL. Premium

Burmans warn Care board of legal action over Saluja Esops

5 min read . 27 May 2024
Rashmi Saluja chairs both Religare Enterprises and its insurance unit. Premium

Sebi ropes in Irdai on Rashmi Saluja's Care Health Esops

5 min read . 14 Feb 2024
Rashmi Saluja, executive chairperson of Religare Enterprises. She had no background in financial services before being asked to head the board. Premium

Deciphering Rashmi Saluja’s success: The doc with a magic wand

11 min read . 07 Dec 2023
Rashmi Saluja, non-executive chairperson, Care Health Insurance. Premium

Miffed Irdai questions Care top brass on Saluja Esops

6 min read . 27 Nov 2023
Hamid Ahmed joined the Religare board two years back and is its sole business-experienced director. (Photo: Hamdard Foundation) Premium

Burman family open offer: Timing 'fishy' says Religare board member Hamid Ahmed

3 min read . 29 Nov 2023
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