Rashmi Saluja, who leads Religare Enterprises (REL), has gone to court asking the Delhi High Court to stop her replacement from the board of directors. This decision is set to be discussed during REL’s Annual General Meeting (AGM) on February 7, 2025. Rashmi believes she should stay on as a director until 2028.
In her court petition, Rashmi wants to cancel the decision to replace her and stop the company from voting on it. She argues that if the company goes ahead with this plan, it would be very unfair to her and against legal rules and good company practices.
Rashmi points out that at the 38th AGM, she was officially reappointed as Executive Chairperson for a five-year term starting February 26, 2023. However, it was mistakenly recorded that she would have to leave her position soon.
The upcoming AGM is very important, as it will be watched closely by people interested in the company. The Burman family, the major shareholders of Religare, have been in a power struggle with Rashmi for control of the company. Recently, they stepped up their efforts by making an open offer to increase their stake in Religare. The AGM was first set for September 2024 but was delayed twice, and now it is scheduled for February 7, 2025, after a court stay.
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