RELIGARE.NSE

Religare Enterprises Ltd.

Religare Enterprises Limited ( ($IN:RELIGARE) ) has shared an update. Religare Enterprises Limited has called an Extraordinary General Meeting of s...

New Delhi: The Burman family has increased their stake in Religare Enterprises to about 30% in the past month through open market purchases following a restructuring announcement by the company in mid-February, as per multiple stock exchange filings.Purchases were made by investment companies they control and also by certain family members directly, data showed.Burmans are the promoters of consumer goods company Dabur. They also co-own Indian Premier League team Punjab Kings.They acquired 13 million shares in Religare Enterprises between March 18 and March 27, as per data. This took their ownership to more than 100 million shares. Religare has 332.7 million shares outstanding.On February 15, Religare Enterprises announced that it was transferring its lending, investment, broking, ancillary and support services into Religare Finvest. The entity would be listed and shareholders of Religare Enterprises would be offered shares in Religare Finvest in a ratio of 1:1.Religare Enterprises would continue to hold a 62% stake in Care Health Insurance after this restructuring.

New Delhi: The Burman family has increased their stake in Religare Enterprises to about 30% in the past month through open market purchases following a restructuring announcement by the company in mid-February, as per multiple stock exchange filings.Purchases were made by investment companies they control and also by certain family members directly, data showed.Burmans are the promoters of consumer goods company Dabur. They also co-own Indian Premier League team Punjab Kings.They acquired 13 million shares in Religare Enterprises between March 18 and March 27, as per data. This took their ownership to more than 100 million shares. Religare has 332.7 million shares outstanding.On February 15, Religare Enterprises announced that it was transferring its lending, investment, broking, ancillary and support services into Religare Finvest. The entity would be listed and shareholders of Religare Enterprises would be offered shares in Religare Finvest in a ratio of 1:1.Religare Enterprises would continue to hold a 62% stake in Care Health Insurance after this restructuring.

Noida: The district consumer commission has held Religare Health Insurance (now known as Care Health Insurance) of Religare Enterprises Limited guilty.

Noida: The district consumer commission has held Religare Health Insurance (now known as Care Health Insurance) of Religare Enterprises Limited guilty.

The Enforcement Directorate (ED)'s case is based on a scheduled offence filed by Mumbai's Matunga police under IPC sections 420 (cheating) and 120(B) (criminal conspiracy). The ED has alleged the conspiracy was aimed at obstructing the takeover of REL by the Burman family to ensure the accused continued to enjoy sole control.

The Enforcement Directorate (ED)'s case is based on a scheduled offence filed by Mumbai's Matunga police under IPC sections 420 (cheating) and 120(B) (criminal conspiracy). The ED has alleged the conspiracy was aimed at obstructing the takeover of REL by the Burman family to ensure the accused continued to enjoy sole control.

The special PMLA court has issued notice to Rashmi Saluja, former Executive Chairperson at Religare Enterprises Ltd (REL) and non-executive chairperson at M/s Care Health Insurance Ltd (CHIL) and four others, after Enforcement Directorate (ED) has submitted a prosecution complaint against them accusing them of money laundering.

The special PMLA court has issued notice to Rashmi Saluja, former Executive Chairperson at Religare Enterprises Ltd (REL) and non-executive chairperson at M/s Care Health Insurance Ltd (CHIL) and four others, after Enforcement Directorate (ED) has submitted a prosecution complaint against them accusing them of money laundering.