Religare Enterprises' Company Secretary Vinay Gupta Resigns
The development follows the removal of Rashmi Saluja as the director of Religare Enterprises.
Vinay Gupta, company secretary and compliance officer (key managerial personnel) of Religare Enterprises Ltd., tendered his resignation on Monday and the board accepted it, according to an exchange filing.
As a result, Gupta ceases to hold either of the positions and is no longer included among the key managerial personnel of the company from close of the business hours of Monday, it said.
"Due to personal reasons, I would like to resign from the position of Company Secretary and Compliance Officer of Religare Enterprises Limited with immediate effect," Gupta said in his resignation letter.
The development follows the removal of Rashmi Saluja as the director of Religare Enterprises. Last week, the company had intimated through an exchange filing that Saluja ceased to hold the post at the financial services company.
The company had decided to remove Saluja after receiving a clarification from the Reserve Bank of India last Thursday. Saluja had not offered herself to be reappointed at the annual general meeting of the company on Feb. 7. However, the results of the meeting showed that about 97% of the shareholders did not vote in her favour.
After this, Saluja had filed a petition before the Delhi High Court against the Securities and Exchange Board of India, three Burman family entities, Religare Enterprises, and JM Financial for alleged non-compliance, violations of RBI conditions, lack of disclosures, and suppressing a competing open offer.
In the plea, she requested the court to dismiss the Burmans' open offer process and prayed that if the offer proceeds, it should fulfil the conditions set by the RBI.
Saluja alleged that the markets regulator did not take the necessary action to protect the investors and minority shareholders in the entire Religare. She also argued that her removal as Executive Chairperson of Religare Enterprises during the AGM on Feb. 7 was illegal.
Shares of Religare Enterprises Ltd. closed 0.77% higher at Rs 236.85 apiece on the BSE, compared to a 0.08% advance in the benchmark Sensex.
