The Delhi High Court refused to bid to stop Bermann’s public offer for religion

The Burman family had first expressed interest in acquiring a controlling stake in Religare in September 2023. Photographer: Prashanth Vishwanathan/Bloomberg

2025-01-30 14:01:00 :

The Delhi High Court rejected a request of an investor headquartered in Bangkok on Thursday to prevent the Berman’s open offer from the Berman family, asking for a 26 % stock of Reminare Enterprises LTD from public shareholders.

The court said that because the Indian Securities and Exchange Commission (SEBI) returned the higher competitors of Digvijay Danny Gaekwad, no other competitors could match the public offer.

Earlier this week, SAPNA Govind Rao, who claimed to have 500 shares in Reminare, sought intervention from the High Court, and believed that public investors should have the opportunity to evaluate the higher -proposed quotation of GAEKWAD in order to be in order Bleak275 per share.

American businessman GaekWad, born in India, Bleak5,000 million. GaekWad’s offer is less than 72 hours, and shareholders can tend their shares on Monday Bleak235 Dabur Chairman Mohit Burman owns four private entities.

SEBI currently refund the quotation of GaekWad because it does not meet the exemption application rules of regulatory agencies specified in the country’s acquisition code.

Please read another: Religare Takeover enters with mysterious Bangkok investors

Since the Berman family announced the control of India’s second largest private health insurance company, Care Health Insurance LTD, and other agencies and non -bank subsidiaries, the battle of religion has witnessed a series of dramatic transformations.

The Berman family first expressed its interest in Renare’s control in Reminare in September 2023. They have also been pushing the religious chairman Rashmi Saluja.

Saluja was dissatisfied with the open price of a Myanmar family, which delayed the company’s annual shareholders’ meeting for six months. In December last year, an investor from Central State sought an intervention of another court’s stay at the shareholders’ meeting. Subsequently, the court canceled the appeal, and the annual shareholders meeting of religion was scheduled to be held on February 7.

This is a development story.

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