The Enforcement Directorate (ED) officials conducted searches at several premises linked to senior officials of Religare Enterprise Ltd (REL), including its chairperson Rashmi Saluja, on Wednesday.
“The Directorate of Enforcement officials had conducted searches at the premises of Key Managerial Personnel / senior officials namely Rashmi Saluja, executive chairperson, Nitin Agarwal, group CFO, Nishant Singhal, group general counsel of REL and Chirag Jain, chief operating officer of Religare Finvest Limited, (a wholly-owned subsidiary of the Company) on August 21, 2024,” said Religare in filing to the Bombay Stock Exchange.
The searches were conducted in connection with an FIR against former promoters of REL, four acquirer companies of Burman Group, members of Burman Family, Abhay Agarwal and JM Financial.
The company said that no incriminating documents or digital device was found and seized during the search.
“However, the ED has freezed the ESOP Shares of Care Health Insurance Limited, the health insurance subsidiary of the Company (CHIL), received by Rashmi Saluja, Nitin Aggarwal and Nishant Singhal. Incidentally, the ESOP Shares of CHIL issued to Dr. Rashmi are the subject matter of an Order of IRDAI in respect of which an Appeal is pending before the Hon’ble Securities Appellate Tribunal,” added the company.
The matter was brought to the attention of the Board of Directors of REL in its meeting held on Friday, where the entire event was discussed. The board members decided to support the management and expressed their faith and confidence in them, said the company.