New Delhi (thestates.news)| Financial services company Religare Enterprises has said that there was no contravention of the SEBI Takeover regulations in the matter allotting Religare Finvest shares through Employee Stock Ownership Plans (ESOPs). Religare Finvest Ltd or RFL is a subsidiary of Religare Enterprises.
“Since no new shares were issued/allotted in the matter, there is no contravention of the Reg 26 (6) of the SEBI Takeover Regulations,” the company said in a statement on Thursday. The statement said that the AGM of RFL was convened on 26 Sept 2023 and shareholders of RFL amongst other things passed the Special Resolution for approval for grant of 2,14,11,555 options under RFL ESOP Plan 2019 to CMD Rashmi Saluja.
“Subsequent to the passing of enabling special resolution by the shareholders of RFL w.r.t. Item No. 5 (Special resolution), RFL has not placed any proposal with NRC till date for grant of above mentioned ESOPs to CMD. Since no new shares were issued / allotted in the matter, there is no contravention of the Reg 26 (6) of the SEBI Takeover Regulations,” the company said. The Board of Directors of Religare Enterprises endorsed the statement and reiterated that it upholds high standards of corporate governance and compliances. (UNI)
Religare upholds high standards of corporate governance, says firm amid ESOP controversy
