Vote against fresh term for Rashmi Saluja as Religare Director: Proxy advisors

Corporate governance advisory firms Institutional Investor Advisory Services (IiAS) and InGovern Research Services have recommended that shareholders of Religare Enterprises (REL) vote against the reappointment of Rashmi Saluja as a director. Saluja serves as the executive chairperson of the New Delhi-based financial services firm.

Religare's annual general meeting is scheduled for December 31. During this meeting, shareholders will vote on three key resolutions: the adoption of the audited financial results for FY24, Saluja's reappointment, and the appointment of statutory auditors. The voting will take place between December 28 and December 30.

According to IiAS, the various legal disputes and police cases involving Saluja may represent significant "potential distractions" for the board and could impact her ability to fulfill her responsibilities as the executive chairperson of the company.​