Religare Reboot: Rashmi Saluja Bids Farewell to Religare!

In a dramatic corporate upheaval, Rashmi Saluja has formally stopped being the Chairperson and Director of Religare Enterprises from February 7, 2025. This is after a spectacular annual general meeting (AGM) where shareholders voted more than 97% against her reappointment, paving the way for her ousting. Saluja had tried to stop the AGM proceedings legally, claiming that her term should run until 2028; however, the Delhi High Court rejected her plea. The Reserve Bank of India affirmed that prior approval was not required for her removal. After Saluja's departure, Praveen Kumar Tripathi has been made the new chairperson until June 30, 2025. This change of leadership comes amidst continued tensions and governance issues within the company, specifically surrounding the Burman family's recent acquisition of a controlling stake in Religare.

 

Source: Outlook Business, Business Standard, Economic Times