02 September 2024
The Securities and Exchange Board of India has sent a notice to Rashmi Saluja, the chairperson of Religare Enterprises, as part of an investigation into potential insider trading. The inquiry focuses on trades made by Saluja in September 2023, just before the Burman family's open offer for Religare Enterprises was announced. The investigation was prompted by a complaint from investment firms associated with the Burman family, alleging that Saluja sold shares after being privy to confidential information. The regulator has the authority to take action against such violations, including insider trading. The company and SEBI have not responded to requests for comment. There are also allegations that Saluja sold shares in violation of insider trading regulations in 2024. Recent searches at Religare Enterprises and its affiliates resulted in the seizure of documents. There have been penalties imposed on Care Health Insurance, a subsidiary of Religare Enterprises, and legal proceedings involving the Burman family's open offer application and approval requirements.
The Securities and Exchange Board of India has sent a notice to Rashmi Saluja, the chairperson of Religare Enterprises, as part of an investigation into potential insider trading. The inquiry focuses on trades made by Saluja in September 2023, just before the Burman family's open offer for Religare Enterprises was announced. The investigation was prompted by a complaint from investment firms associated with the Burman family, alleging that Saluja sold shares after being privy to confidential information. The regulator has the authority to take action against such violations, including insider trading. The company and SEBI have not responded to requests for comment. There are also allegations that Saluja sold shares in violation of insider trading regulations in 2024. Recent searches at Religare Enterprises and its affiliates resulted in the seizure of documents. There have been penalties imposed on Care Health Insurance, a subsidiary of Religare Enterprises, and legal proceedings involving the Burman family's open offer application and approval requirements.
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