Shriram Subramanian, Founder & MD, InGovern, says the Religare board’s contention that SEBI does not have jurisdiction in this matter is totally inappropriate. It is like showing a red card to a regulator. The board has appropriated rights which belong to shareholders. Even minority shareholders for that matter who could tender their shares if the open offer goes through. The board has sought to give itself primacy and has not acted in the interest of the company and has trampled upon the…
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