Proxy adviser seeks Rs.480-cr share recovery
Mumbai, July 14 -- Five months after Dabur India Ltd chairman Mohit Burman took control of Religare Enterprises Ltd, a proxy advisory firm has sought an update on the issue of recovering shares of a subsidiary worth Rs.480 crore from former Religare chair Rashmi Saluja.
On Sunday, InGovern Research Services issued a note asking that Religare and its arm, Care Health Insurance, provide details and an update on the employee share options awarded to Saluja. The Bengaluru-based proxy adviser also asked for the recovery of fees paid by Care Health to its former independent director, Pratap Venugopal, who provided legal opinion to the insurance firm.
Emails sent to Religare on Sunday seeking comment did not elicit a response.
Saluja received ESOP...
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