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Religare Enterprises Ltd (REL), which is in the eye of corporate control battle, on Thursday revealed that Reserve Bank of India (RBI) had in May this year refused approval for appointment of Rakesh Asthana as Director on the Board of the company.
Asthana, who is Group Head-Corporate Affairs & Business Advisor, was in November 2023 appointed as an Additional Director (to be designated as Whole-Time Director) to the Board of the company.
It was then indicated that his appointment would be effective on receipt of the approval of RBI and was also subject to the approval of the shareholders.
Asthana, a 1984 batch Indian Police Service (IPS) Officer, had superannuated as Police Commissioner of Delhi on July 31,2022. He had held several high profile and coveted positions during his career including senior roles in the Central Bureau of Investigation (CBI).
In a regulatory filing with the stock exchanges on Thursday, REL highlighted that no reason was assigned by the RBI for refusal of the company’s application to appoint Asthana as Director to the Board.
REL said that it had missed disclosure of this RBI refusal to the stock exchanges under SEBI LODR “due to oversight”.
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