The Securities and Exchange Board of India(Sebi) has asked Religare Enterprises to apply for approvals with all regulators before July 12 that are required for the Burman family to proceed with the open offer to buy more shares in the company from public shareholders. The capital markets regulator’s directive has come as a setback to the New Delhi-based financial services firm’s management led by chairperson Rashmi Saluja, who has been opposed to the Burmans’ bid to raise their stake in the…
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