By Ananya Grover
The annual general meeting (AGM) of Religare Enterprises on Friday took an interesting turn after chairperson Rashmi Saluja stopped the discussion on her reappointment (agenda 2), stating that she was not liable to retire by rotation, said sources.
“So, we can ignore resolution number 2,” she said. When an independent director present at the meeting contested her decision, she dismissed the intervention, saying that his remarks should be taken on record.
The e-voting process for the AGM has been going on for the last two days. It ended on Friday.
According to Shriram Subramanian, founder and MD of InGovern Research Services, a large percentage of shareholders would have already e-voted in the past three days. “The scrutinisers are dutybound to place the records of those who have already voted in front of the board and stock exchanges,” he said.
Subramanian added that the independent directors also have to be responsible and table the results for the shareholders.
Earlier this week, there were two Delhi High Court rulings that rejected Saluja’s petitions to halt the AGM or the resolution.
Three proxy firms had also advised stakeholders to vote against Saluja’s reappointment, citing various concerns, including her excessive remuneration and ESOP allocation, along with the ongoing legal challenges against her.