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 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.
Editor, Banking
furquan@mailtmc.com
Delhi