Rashmi Saluja of Religare refuses to back down in a dispute with the Burman family

Rashmi Saluja, Executive Chairperson of Religare Enterprises, remains steadfast amidst allegations by the Burman family, major shareholders vying for control of the financial firm. She asserts confidence in her performance, is supported by the board, and points to her successful track record in the non-banking finance sector. Saluja rebuffs accusations of insider trading, emphasising the rigorous regulatory oversight governing transactions like ESOPs.

The dispute between Religare’s Board and the Burman family centres on allegations of corporate governance lapses and insider trading. Independent Directors have retaliated by alleging fraud and other breaches against the Burmans with regulatory bodies. Saluja insists that the board, after thorough assessments, rejected the Burmans’ takeover bid due to identified discrepancies.

Under Saluja’s leadership, Religare Enterprises pursues expansion while overcoming challenges like a fraudulent tag associated with its MSME financing arm. Saluja credits the resilience of her team for navigating through turbulent times, positioning Religare as a rare financial institution to withstand challenges without special dispensations or bailouts. She reaffirms the Board and management’s commitment to guiding the company towards sustained growth and success.