Religare Chairperson looks into the sale of a stake for the Burman family of Dabur; Religare disputes any wrongdoing

 Religare Chairperson looks into the sale of a stake for the Burman family of Dabur; Religare disputes any wrongdoing

During the discussion, Saluja was apprised of the plans of Burmans, the company that owned 20.15 percent of REL.

The Burman family, who are Dabur's promoters, has complained to regulatory bodies, requesting an investigation against Rashmi Saluja, the chairman of Religare Enterprises Ltd., for selling shares. Saluja sold her stock in Religare Enterprises Ltd (REL) as soon as the Burman family informed her that they planned to make an open bid for the financial services company, according to the lawsuit.

Saluja sold a portion of her own personal ownership in Religare Enterprises Ltd., a day after meeting with a Burman family representative, according to a letter sent to the Securities & Exchange Board of India (Sebi) and stock exchanges by entities under the control of the Burman family, who are the promoters of the well-known FMCG brand Dabur. At the meeting, Burmans, who already owned 5% of REL and held a 20.15 percent stake, informed Saluja of their plans to make an open offer to purchase an additional 26% of the company from the open market in order to acquire control of the financial services company, according to Dabur India chairman Mohit Burman.