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Finshots Daily

Why is SEBI after Religare's Rashmi Saluja?

Jun 27, 2024
06:45
Snipd AI
Rashmi Saluja from Religare is under SEBI's pressure to deal with Dabur's Burman family's hostile takeover bid. The podcast delves into the potential consequences for both companies and the regulatory hurdles involved.
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Podcast summary created with Snipd AI

Quick takeaways

  • SEBI wants Religare to comply with regulations to prevent hostile takeover by Burman family.
  • Burman family aims to diversify business empire with financial services, planning to influence Religare's operations.

Deep dives

Sebi's Involvement in Religare's Situation

SEBI is pressuring Religare's board to comply with regulations due to a potential hostile takeover bid by the Burman family. This stems from the past financial fraud allegations against Religare's founders, leading to a loss of investor confidence. The increase in Burman's stake in Religare triggers regulatory rules that require additional offers to minority shareholders over 25% ownership. This situation puts Religare in a precarious position, with SEBI monitoring closely.

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