Board of Care Health Insurance Retains Rashmi Saluja Amid Burman Family's Removal Demand

Board of Care Health Insurance decided to keep Rashmi Saluja as chairperson despite the Burman family's push for her removal. The Burmans, major shareholders in Religare Enterprises, sought her exit. However, CARE, providing legal opinions, saw no valid reason for Saluja's removal, continuing the earlier dispute between the parties.

The Board of Care Health Insurance has opted to retain Rashmi Saluja as its chairperson, countering the Burman family's call for her ousting.

The Burman family, significant shareholders in Religare Enterprises, CARE's holding company, had demanded Saluja's removal.

After reviewing the Burman family's September 27, 2024 communication seeking her exit, CARE's directors determined that there was no basis for her removal, citing a legal opinion. The Burmans, who hold about 25% of REL through their entities, had launched an open offer last year to acquire an additional 26% stake from public shareholders.

(With inputs from agencies.)