It’s to be famous that the Burman household — a promoter of Dabur India and different entities comparable to Eveready Industries — by its entities, in September 2023 introduced a Rs 2,116-crore open supply to Religare shareholders to amass as much as 26 per cent stake within the firm.
Quickly after the open supply bid, Burmans complained to capital market regulator Sebi for violation of insider buying and selling guidelines by the Religare chairperson Rashmi Saluja and appointment of board of her alternative.
Nonetheless, it was contested by REL unbiased administrators, who raised pink flags alleging fraud and different breaches by Burman household entities and approached regulators, together with markets regulator Sebi, the RBI, and the Insurance coverage Regulatory and Growth Authority.
