The article reports that the board of Religare Enterprises Ltd. has decided to remove Rakesh Asthana and Rashmi Saluja from their positions as directors of the company. The move comes after a dispute arose between the two individuals and the company.
Rashmi Saluja, a prominent businesswoman, was appointed to the board in 2014 to help steer the company’s growth and expansion. However, it appears that her leadership and vision did not align with that of the company, leading to a rift between the two parties.
Rakesh Asthana, a former Indian Police Service (IPS) officer, was appointed as an independent director on the board in 2015. His role was to provide strategic guidance to the company, but his tenure was marked by controversy, with allegations of conflict of interest and impropriety.
The decision to remove both Saluja and Asthana from the board was reportedly made in light of the company’s ongoing financial and corporate governance issues. The board has been facing intense scrutiny and criticism over its management practices, and the removal of the two directors is seen as an attempt to restore the company’s reputation.
The news has sent shockwaves through the corporate world, with many industry observers speculating about the reasons behind the move. Some have suggested that the company may be trying to distance itself from the controversies surrounding Saluja and Asthana, while others have speculated that there may be more to the story.
In the meantime, the company has clarified that the decision to remove Saluja and Asthana is part of its ongoing efforts to ensure good governance and transparency. As the dust settles, the spotlight will be on the new board to demonstrate its commitment to ethical and responsible corporate practices.