HC stays Religare AGM, RBI's nod for open offer
Financial Express Bengaluru|December 27, 2024
IN A SETBACK to the Burman family, the Madhya Pradesh High Court has stayed the approval granted by the Reserve Bank of India (RBI) for making an open offer to acquire an additional 26% stake in Religare Enterprises as well as the company's annual general meeting (AGM) scheduled for December 31.
AKSHATA GORDE

Earlier this month, the RBI approved the open offer of the Burman family, which currently holds a 25% stake in Religare through its four entities, to acquire an additional 26%, potentially gaining majority control of the NBFC.

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