New Delhi, Jan. 30 -- The Delhi high court on Thursday rejected a Bangkok-based investor's plea to halt the Burman family's open offer to buy 26% shares in Religare Enterprises Ltd from public shareholders.

The court said that as the Securities and Exchange Board of India (Sebi) had returned Digvijay Danny Gaekwad's higher counteroffer, there was no other rival bid to match the ongoing open offer.

Earlier this week, Sapna Govind Rao, who claimed to own 500 shares in Religare, sought the intervention of the high court, arguing that public investors should be allowed a chance to evaluate Gaekwad's higher proposed offer to buy shares at Rs.275 a share.

India-born US businessman Gaekwad first made an offer to buy up to 26% shares on Friday...