The insurance regulator has asked top executives of Care Health Insurance Ltd to explain the issue of stock options to non-executive chairperson Rashmi Saluja despite being told not to do so, two people aware of the matter said.
On November 22, officials of the Insurance Regulatory and Development Authority of India (Irdai) summoned Anuj Gulati and Anoop Singh of Care Health and questioned them about "excessive" stock options issued to Saluja and Gulati, the people said on the condition of anonymity. While Gulati is managing director and chief executive of Care Health, Singh is chief compliance officer.
"Irdai is very concerned about 22.7 million employee stock options (Esops) approved by the Dr. Saluja-led board of Care Health to Dr. Saluja herself. This is worth hundreds of crores of money for one person who is not a promoter, just an employee," one of the two people said.
The issue of stock options came into focus after the Burman family (of Dabur) made an open offer for Religare Enterprises Ltd, the parent of Care Health. After the Religare board opposed the proposal, the Burmans alleged that Saluja, who is also non-executive chairperson of Religare, had received hefty stock options from Care.
The open offer by the Burman family for Religare, where it already owns a 21.54% stake, was announced on September 25. The offer for the additional 26% at ₹235 per share will cost ₹2,116 crore.
Esta historia es de la edición November 28, 2023 de Hindustan Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 28, 2023 de Hindustan Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Palestinian PM Resigns Citing 'New Reality' Of War In Gaza
The United States and other powers have called for a reformed Palestinian Authority to take charge of all Palestinian territories after the end of war
Future Perfect: The Kids Are All Right
Gill and Jurel hold out promise by simplifying a challenging chase to help India seal series
Akshay feels 'blessed' to have worked with OG Ramayan cast
Director Akshay K Agarwal shot a music video, Humare Ram Aaye Hai, with the cast of the 1987 TV show, Ramayanactors Arun Govil, Dipika Chikhlia and Sunil Lahri - in Ayodhya recently.
Musk's firm gets nod for Sat Net; joins Jio, Bharti
Starlink, owned by billionaire Elon Musk, has been allowed to offer satellite broadband services in India, two officials aware of the development said.
A temple, 169 years in the making
Through decades of design and reworks, hurdles in engineering and construction, HT pieces together how the grandeur of the Ram Temple was reclaimed
'Political interference' forces Vihari to quit Andhra cricket
After Andhra bowed out of the Ranji Trophy at the quarter-final stage with a four-run defeat to Madhya Pradesh in Indore on Monday, senior batter Hanuma Vihari launched a scathing attack on the Andhra Cricket Association (ACA), saying he will never turn up for the state again.
Shafali, Kapp lead Capitals to a 9-wicket win over Warriorz
A blazing fifty by Shafali Verma (64₹, 43 balls) helped Delhi Capitals make a mockery of a target of 120 and open their account in the second edition of the Women's Premier League (WPL).
Making 'unbelievable things believable', the Ayhika way
The India No. 7 was an inspired pick for the world team event and she repaid the faith, beating the Chinese world No.1
'Connected TVs to reach 45 mn by 2024-end in India'
With improvement in broadband penetration, Indian households are increasingly opting for connected or addressable TVs.
India chip strategy makes progress as $21 billion in proposals received
The Indian government, after years of watching from the sidelines of the chips race, now has to evaluate $21 billion of semiconductor proposals and divvy up taxpayer support between foreign chipmakers, local champions or some combination of the two.
