By:- B.T Team

Image Credit:- Google

Reappointment of Rashmi Saluja

Shareholders have approved Rashmi Saluja’s reappointment as director of Care Health Insurance.

Care Health Insurance Shareholders Reappoint Rashmi Saluja

The Burman family, shareholders in Religare, is in a conflict with the company's board over control.

Conflict in Religare Enterprises

Rashmi Saluja, Chairperson of Religare

Rashmi Saluja currently serves as the chairperson of Religare Enterprises.

Reappointment Cleared

On September 30, shareholders cleared Rashmi Saluja’s reappointment with a majority vote.

Her position as director is renewed every five years, based on shareholders' approval.

5-Year Term

Burmans Demand Removal

The Burman family, proposed acquirers of Religare, demanded Rashmi Saluja’s removal from the board of Care Health Insurance.

Care Health Insurance's Response

After legal consultation, Care Health Insurance’s directors found no cause for Saluja’s removal.

Majority Stake in Care

Religare Enterprises, with a 64% stake in Care Health Insurance, supported the resolution for Saluja's reappointment.

Burmans' Open Offer

The Burman family owns 25.18% of Religare Enterprises and has made an open offer for an additional 26% stake.

Hostile Offer

Religare Enterprises’ board considers the Burman family’s open offer a hostile bid for control.

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