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HC declines to postpone Religare AGM amid proposed takeover bid
The New Indian Express Vishakapatnam
|January 31, 2025
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.
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.
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