Rashmi Saluja was issued huge amount of options in Religare & subsidiary without informing shareholders: S

Shriram Subramanian, Founder & MD, InGovern, says: When we looked at the annual report, we figured out that the executive chairperson, Rashmi Saluja, who was an independent director and in 2021, became the executive chairperson, has been issued options worth Rs 480 crore which will mature over the next two-three years..

But the disclosures have not been properly made to the Religare shareholders.. Unlock Leadership Excellence with a Range of CXO CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Chief Marketing Officer ProgrammeVisitIndian School of BusinessISB Chief Digital OfficerVisitIndian School of BusinessISB Chief Technology OfficerVisit..

There also options worth Rs 250 crore have been issued to Dr. Saluja, who is not even an executive member of the Care Health Insurance..

Yet the company, which is Care Health Care, went ahead and issued options to Saluja as an employee of the holding company which is an employee of Religare but that itself is not a disclosure made to shareholders of Religare, because if a material subsidiary is issuing so much options to the chairperson, then that should be coming in the compensation disclosures made by Religare itself..

Yes, so it is not clear why the Religare board is objecting to a large shareholder coming in and also when the mandatory open offer triggers at 25%, the SAST and SEBI regulations are actually very procedural in nature..

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