Burman Family demands SEBI investigation in allotment of Religare ESOPs to REL chairman Rashmi Saluja
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- January 03, 2024
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"The allotment of approximately 2.14 crore shares, constituting ~8% of Religare Finvest Limited (RFL), to Rashmi Saluja through Employee Stock Ownership Plans (ESOPs) requires investigation in terms of compliance with SEBI Takeover Regulations. It is unfortunate that a solitary executive has cornered significant quantum of remuneration through ESOPs at Limited (REL), Care Health Insurance Limited, and RFL, all without approval and requisite disclosure to REL shareholders.
This raises question mark on the management and the independence of the independent directors and their complicity in such unjustified dole outs. REL board should answer the shareholders whether there exist more instances of ESOP issuances to entities, and potential conflicts of interest. These actions have eroded trust and confidence in the REL board, necessitating urgent need to restore credibility," the spokesperson of the Burman Family said.
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