HC declines to postpone Religare AGM amid proposed takeover bid

The Delhi High Court on Thursday refused to stay the Annual General Meeting (AGM) of Religare Enterprises Limited (REL), scheduled for February 7, despite a legal challenge by a minority shareholder over the proposed takeover by the Burman family, owners of Dabur.

- SHEKHAR SINGH @ New Delhi

Justice Manoj Jain, hearing the petition filed by Sapna Govind Rao, found no sufficient grounds to grant interim relief and allowed the AGM to proceed as planned. Rao, who holds 500 shares in REL, had challenged the RBI's approval for the takeover, alleging a lack of transparency and undervaluation of shares.