Madhya Pradesh High Court Clears Path for Religare AGM

Burman family, which owns about 25% of Religare, has been pushing to remove Saluja, despite the board backing her

- Nehal Chaliawala & Neha Joshi

The Madhya Pradesh High Court on Thursday dismissed a public interest litigation (PIL) that had indefinitely stayed Religare Enterprises Ltd's annual general meeting (AGM), earlier scheduled for 31 December, to consider the reappointment of chairperson Rashmi Saluja.

Solicitor General Tushar Mehta, representing the Reserve Bank of India, argued against the PIL filed by Madhya Pradesh-based advocate Vijayant Mishra, noting that the petitioner was not a shareholder in Religare and sought judicial intervention regarding a Delhi-based company. Mehta called for the PIL's dismissal with imposition of heavy costs.