The strange, mercurial rise of Rashmi Saluja at Religare

The executive chairperson of Religare, battling a hostile takeover by its largest shareholder, is a mysterious figure with no background in financial services.

In the past month or so, Rashmi Saluja, the executive chairperson of Delhi-based financial services company Religare Enterprises, has been thrust into the limelight. In an uncommon occurrence for Indian business, the board of directors is battling a hostile takeover by the company’s largest shareholders, the Burman family, known best as the promoters of Dabur.

At the centre of this tussle to control this mid-cap financial services company is Saluja—a doctor and an upstart in corporate India pitted against a billionaire business family with a pedigree spanning more than a century.

Religare, which operates across health insurance, broking and lending, …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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