Rashmi Saluja Resigns From Religare Board; Praveen Tripathi Appointed Chairperson

Rashmi Saluja, Executive Chairperson of Religare Enterprises Limited (REL), is no longer a Director on the company’s Board, effective February 07, 2025. Further, the Board has appointed Praveen Kumar Tripathi as Chairperson until June 30, with a rotational system for the position.

The company had sought the Reserve Bank of India’s clarification on Board changes and received a response on February 13, confirming Saluja’s exit. Saluja’s reappointment resolution was rejected, with 97.53% of shareholders voting against it. Meanwhile, the Burman family’s open offer for Religare closed after US-based Digvijay Gaekwad failed to deposit Rs 600 crore for a competing bid. The Burmans, who launched the offer in September 2023, acquired only 231,000 shares, representing 0.26% of the offer.

Praveen Kumar Tripathi is a retired IAS officer with a career spanning over 40 years in public service from 1977 to December 2017. He held senior positions at both the state and central levels, including Chief Secretary and Principal Secretary to the Chief Minister of Delhi, Joint Secretary at the Ministry of Information & Broadcasting, and Director of the Indian Institute of Mass Communication. He also served as CEO of the Delhi Jal Board, Commissioner of Sales Tax, and Chief Electoral Officer of the Andaman & Nicobar Islands. Tripathi was on the boards of Delhi Metro Rail Corporation, TATA Power Ltd., and BSES Rajdhani Power Ltd. He holds a postgraduate degree in political science from Allahabad University and was a gold medalist at the undergraduate level.