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Religare Ent board has no power to reject open offer: Burman family
The Morning Standard
|November 30, 2023
IN the ongoing tussle between the Burman family and directors of Religare Enterprises Ltd (REL), the former on Wednesday said the Religare board has no power to reject its open offer for the company.
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This statement by the Burmans came after an independent director of Religare criticised the timing of the open offer and called it 'fishy'.
"The Board of REL does not have the power or authority to reject our open offer. It only has the power to recommend the open offer to the shareholders. It is a separate matter, that the shareholders have already seen the governance lapses in Religare Enterprises and whether the directors can be said to be discharging their duties correctly.
Diese Geschichte stammt aus der November 30, 2023-Ausgabe von The Morning Standard.
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