Rashmi Saluja, executive chairperson of Religare Enterprises, has reached out to the Ministry of Finance and the Prime Minister’s Office for intervention amid allegations made by the Securities and Exchange Board of India (SEBI) and Enforcement Directorate (ED), Moneycontrol reported on Wednesday.
Saluja’s plea for intervention comes after she was raided by the ED in the first week of September. An FIR was filed against her and two others in a false allegation of cheating and criminal conspiracy against the Burmans of Dabur Group, the report said.
The markets regulator has also issued a show cause notice against Saluja over insider trading allegations. The regulator has also flagged failure on the part of Religare Enterprises’ board to obtain statutory approvals required for the open offer launched by the Burman family to acquire additional shares in the company.
Amid all of these regulatory investigations, Saluja has dismissed these allegations as baseless, and has reached out to FinMin and PMO seeking relief, the report said.
She said the battle is no longer about the Burmans acquiring the company that she has turned around in the last six years but it could also decide the fate of corporate India.
Saluja said that while she expects the truth to prevail, but “if the employees are going to be targeted like this, nobody will stick their neck out for making monies for the shareholder for participating for good for the country,” according to the report.
“We are all giving taxes to the country. We are all, in fact, a beacon of big discussions of turnaround stories. Don’t kill that. I don’t want to look at what has happened. People have laundered money and absconded. We are here. We’ve created money for you… So, I’m actually really looking at the light at the end of the tunnel. And my tunnel is not dark,” the report said, citing Saluja.
“That’s the reason cheating is easier in this country, rather than doing good because it is still like an agni pariksha every single day. Doing good is always more difficult. But we are still very happy,” according to Saluja.
This follows soon after proxy firm InGovern raised concerns over the company’s corporate governance and leadership credibility following the postponement of its annual general meeting (AGM). Religare dismissed the report rmed the report as “manipulative” and “a malicious attempt to hurt the credibility of the company and its leadership.”
From: financialexpress
Financial News
