NEW DELHI: Capital market regulator SEBI has come down heavily on Religare Enterprises (REL) chairperson Rashmi Saluja and its board of directors for obstructing the Burman family from launching an open offer for acquiring a majority stake in the financial conglomerate. The SEBI has observed that the current board of REL has failed to comply with the securities law and has directed the company to apply to the RBI, IRDAI, and SEBI before July 12. These applications are an integral part of…
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