2025-01-31 05:00:00 :
Rashmmi Saluja, CEO and Chairman of Religious Enterprise Co., Ltd., sued her corporate group. She will seek potential takeover and extend the term of office, and with the four independent directors of the company. It is one of the first examples of a listed company.
On Tuesday, Saluja proposed cases against religion in the Delhi High Court, seeking the court’s intervention measures to stop scheduled to be held on February 7th. One of the resolutions of the shareholders is Saluja as a director.
The sponsor of Dabur LTD Billionaire’s Burman family has more than 25 % of the shares in Reminare, and through public offer Bleak235 per share. Saluja risked the risk of being fired because her re -election needs to be approved by at least half of the shareholders. Earlier this month, the agent adviser Ingovern Research Services suggested that shareholders vote for re -appointment.
“This is the struggle between the CEO and the majority of board members. This is a ridiculous situation. The board member and CEO (Rashmi Saluja) did not notify other directors or shared petitions of the board of directors. In a sense, he sued himself.
Kohli represents four independent directors-Praveen Tripathi, Malay Sinha, Ranjan Dwivedi and Preteti Madan. Mint cannot independently determine the position of Hamid Ahmed, the fifth independent director. The court will hear this on February 4.
Corley said: “I don’t know the situation that happened in a public listed company in India. The company’s chief executive officer and current board member of the board of directors have sued the company.”
“Any question that any shareholder may ask is, what is the intention of all the CEOs behind all of these? Related issues will face shareholders during the annual shareholders’ meeting.”
Two independent directors Dwivedi and Sinha refused to comment, while Ahmed and Madan were unable to contact. An email sent to religion for a comment has not been answered.
Surprised to the case
Religious Director PK Tripathy told Mint that he was surprised that Rashmi Saluja filed a lawsuit against her company. She only served the company rather than a single board member. He pointed out that four of the six directors (including Saruha) agreed to hold an annual shareholder meeting in the case of shareholders’ rights, which is why they appeared in court to ensure the company’s representatives through their lawyers. Tripathy said that the fifth director is different from the current opinion, but it may change his position and keep it consistent with other directors.
Tripathi added: “This is the right to hold the annual shareholders’ meeting of the annual shareholders. This is why the four of us think it is necessary to represent the company in court, even if we do not serve the petition.”
As Mint first reported on January 13, when the independent directors put the weight in the public offer of the Berman family, the differences between Saluja and Religious Companies and members of the board of directors. Less than 10 days later, Divivjay Danny Gaekwad, born in Indian citizens, proposes to make a proposal BleakThe stock of 5,000 million rupees can be purchased at most. The revised bid was less than 24 hours before Burman opened the offer on Monday. Subsequently, the Indian Securities and Exchange Commission returned a letter from Gaekwad because it did not meet the regulatory institutions’ exemption application rules in accordance with the country’s acquisition rules.
However, at least two independent directors Sinha and Tripathi expressed dissatisfaction with religion’s selective disclosure, including posting GAekWad’s letter to exchanges and reported on January 30.
“Share the Digvijay” Danny “GAEKWAD’s trading letter to communicate with the company, without the need to conduct due diligence to allow a small number of shareholders holding 500 shares to file a lawsuit in the Delhi High Court to stop Burman’s open offer, and then file a lawsuit in the case in the case. . The Delhi High Court of Rashmi Saluja stated that she was urgent to continue to govern, “SHRIRAM Subramanian, the founder and managing director of Ingovern, said:” The company’s chairman and managing director will not lead the chairman of the board of directors, which becomes ridiculous and ridiculous. Full of confidence, is suing the company itself. “
Subramanian said: “All these are completed under the protection of the interests of a small number of shareholders, and management and corporate resources are used to fight against the upcoming acquirers.”
In a description of Ingovern’s earlier this month: “The continuous review of religion put forward questions about her governance effectiveness under the leadership, which reflects her supervision and governance ability. Regarding the supervisory guidelines on the execution of the salary, “it is recommended that investors vote to oppose Saluja’s request.
Rao’s plea was rejected
On Thursday, the Delhi High Court rejected the appeal of investors headquartered in Bangkok in another case, demanding that the Berman family’s public offer and stopping the annual shareholders’ meeting. Sapna Govind Rao claims to have 500 shares in religious shares. Bleak275 per share.
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 expressed dissatisfaction with the open price of the Burman family, and the company’s annual shareholders’ meeting has been postponed 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.
Corley said: “From the milestone LIC and the accompanying travel case, the court will not leave an AGM lawsuit because this constitutes a lawsuit that hinders the company’s democracy.”
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