Religare takeover fiasco: 3, including REL chief, booked

In a fresh twist in the ongoing Religare Enterprise takeover battle between its chairperson Rashmi Saluja and the Burman family members, the Enforcement Directorate(ED) has filed a case of cheating and criminal conspiracy, against Saluja and Group CFO Nitin Aggarwal and president and general counsel Nishant Singhal.

- Ashish Singh

The ED has accused Saluja of getting a case registered against Dabur group chairman Mohit Burman and his family members with the aim of sabotaging the proposed acquisition of Religare and its subsidiaries. This move is alleged to have been a deliberate attempt to obscure the illicit gains obtained through their acquisition of Employee Stock Option Plans (ESOPs) from Care Health Insurance Limited (CHIL), a Religare subsidiary.