8 MAY2025After failing to receive shareholder approval for reappointment, Religare Enterprises announced that executive chairperson Rashmi Saluja is no longer a director. Her departure coincides with the Burman Family's open offer to acquire an additional 26 percent stake in the company. She ceased to be a Non-Independent Director on February 7, 2025.They stated, "This is to inform you that the company's 40th Annual General Meeting (AGM) was held on February 7, 2025. One of the agenda items (Item No 2) as per the AGM notice approved by the Board of Directors of the company concerning the reappointment of Rashmi Saluja, the executive chairperson of the company and the only non-independent director on the board of REL". The Scrutinizer's report stated that 97 percent of votes were cast against the resolution.Religare, a Non-Banking Finance Company, is governed by both the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). Following clarification from the RBI on Thursday, Rashmi Saluja, executive chairperson, has ceased to be a director of the company.Burmans' open offer to acquire an additional 26 percent stake in Religare began on January 27, after regulatory approvals. The Supreme Court extended the offer to February 12 while reviewing a competing bid from US investor Danny Gaekwad, who must deposit Rs 600 crore by the deadline. The offer targets up to 9,00,42,541 equity shares, representing 26 percent of Religare's expanded voting share capital.As of September 30, 2024, Burmans, through four entities, own a 25.12 percent stake in REL. Following the open offer, their stake would rise to 53.94 percent. In September 2023, the Burman family, promoters of Dabur India, announced a Rs 2,116 crore open offer to acquire up to 26 percent of REL.After the open offer bid, the Burmans filed a complaint with Sebi, accusing the chairperson of insider trading and board manipulation. In response, REL's independent directors disputed the claims, raising concerns of fraud and violations by Burman entities, and approached regulators including Sebi, RBI, and IRDA. RASHMI SALUJA EXITS RELIGARE BOARD AS BURMANS' ACQUISITION OFFER ADVANCESGender Balance Forum has recently been hosted by UAE Gender Balance Council during the World Governments Summit (WGS) 2025, highlighting UAE's commitment towards strengthening the global partnerships while fostering knowledge exchange in order to advance gender equity which plays a key pillar of sustainable development. The forum witnessed the participation of High-profile regional and international dignitaries alongside UAE Gender Balance Council members.Additionally, President of UAE Gender Balance Council Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum emphasised that gender balance continues to be a national priority of UAE during her participation in the forum. She stated, "Remarkable progress of UAE in gender balance is a testament to our wise leadership's vision and unwavering support. Their commitment to ensuring equal participation of men and women in nation-building has positioned the UAE as a global success story."She also underscored the leading ranking of the region in international gender balance indices that includes first place in the region and seventh globally, specifically in Gender Equality Index 2024 by the United Nations Development Program. Moreover, she mentioned that UAE comes first in MENA (Middle East North Africa) region in World Bank's Women, Business, and the Law 2024 report."The UAE's recognition as a global leader in gender balance is the result of deliberate policies, strategic initiatives and impactful partnerships. These achievements did not happen by chance but through a well-defined vision. Our discussions at this forum are a valuable opportunity to highlight legal reforms, innovative programs, and impactful strategies that drive gender balance and inclusivity worldwide," said Her Highness adding to her statement. UAE GENDER BALANCE COUNCIL ORGANISES GENDER BALANCE FORUM DURING WGS 2025· UAE Gender Balance Council hosted Gender Balance Forum during WGS 2025· President of UAE Gender Balance Council attended the forum· She emphasised gender balance still remains a national priority of UAEIN FOCUS
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