Religare refutes charges made by Dabur’s Burman kin
As per the complaint, Saluja sold her share in Religare Enterprises Ltd (REL) immediately after the Burman family disclosed to her that they intend to make an open offer for the financial services firm.
Representative image
NEW DELHI: Burman family - the promoters of Dabur - has filed a complaint with regulatory authorities seeking a probe into sale of shares by Religare Enterprises Ltd’s Chairman Rashmi Saluja.
As per the complaint, Saluja sold her share in Religare Enterprises Ltd (REL) immediately after the Burman family disclosed to her that they intend to make an open offer for the financial services firm.
Entities controlled by the Burman family - promoters of FMCG major Dabur - have written to the Securities and Exchange Board of India and stock exchanges that Saluja sold a portion of her personal holdings in Religare Enterprises Ltd a day after meeting a representative of the Burmans on September 20. Saluja at the meeting was informed about the intentions of Burmans, who held a 20.15 per cent stake in REL and had bought another 5 per cent, to make an open offer to buy another 26 per cent stake from open market to take a controlling stake in the financial services firm, Dabur India chairman Mohit Burman said.
REL management on September 25 welcomed the open offer but later said the offer price of Rs 235 per share is undervalued.
