Religare's Rashmi Saluja seeks intervention from PMO, FinMin amid allegations by ED, SEBI

Rashmi Saluja, Executive Chairperson of Religare Enterprises, has reached out to the Ministry of Finance and the Prime Minister’s Office for an intervention amid allegations made by SEBI and Enforcement Directorate.

Saluja was raided by the ED in the first week of September, a FIR has been filed against her and two others in false allegation case against the Burmans of Dabur Group. The charges are of cheating and criminal conspiracy. Market regulator SEBI has issued a showcause notice against Saluja over insider trading allegations. SEBI had also flagged failure on the part of Religare Enterprises' board to obtain statutory approvals required for the open offer launch by the Burman family to acquire additional shares in the company. Thusm Saluja, even as she continues to put up a fight and rebut the allegations on her, had reached out to FinMin and PMO seeking relief from what she says are baseless allegations.

She said the battle is no longer about the Burmans acquiring the company that she has turned around in the last six years but it could also decide the fate of corporate India.

"I only hope one thing. It is definitely a journey which is going to open a lot of insights, reforms and paths for the corporate world. Because if truth prevails , which I'm very confident about, nobody will shy away to work hard. Because they all will know that the truth will protect their hard work. But if the employees are going to be targeted like this, nobody will stick their neck out for making monies for the shareholder for participating for good for the country. We are all giving taxes to the country. We are all, in fact, a beacon of big discussions of turnaround stories. Don't kill that. I don't want to look at what has happened. People have laundered money and absconded. We are here. We've created money for you… So, I'm actually really looking at the light at the end of the tunnel. And my tunnel is not dark," said Saluja.