The Board of Directors of Care Health Insurance Ltd (CARE) on Monday, rejected Burman Family’s demand for removal of REL Chairperson Rashmi Saluja from the post of non-executive Chairperson of private health insurer.
Four private entities of Burman Family have mounted a takeover of Religare Enterprises Ltd (REL), which owns 64 per cent stake in CARE.
Ahead of the Annual General Meeting of CARE on Monday, the Burman Family— largest shareholder in REL—had written to the Board of CARE, REL seeking the removal of Saluja from the Board of Private Health Insurer.
“Directors of Care Health Insurance Ltd (“CARE”) reviewed the communication dated 27.09.2024 received from the Proposed Acquirers of Religare Enterprises Ltd (“REL”) demanding the removal of Dr. Rashmi Saluja from the Board of Directors of CARE. In light of a legal opinion received by CARE, the Directors agreed that there exists no cause for removal of Dr. Rashmi Saluja and a suitable response is being sent to the Proposed Acquirers accordingly”, a press statement by CARE said on Monday evening.