This shareholder's meeting gains significance as the company's executive chairperson Rashmi Saluja, who is facing regulatory action and accusations on multiple fronts, is up for reappointment.As the only non-independent director up for rotation in this AGM, Saluja's leadership has come under scrutiny, especially at a time when the Burman family—which holds 26% in Religare—may move forward with an open offer to take a controlling interest in Religare.The Religare board has opposed the open offer and is awaiting regulatory decisions on the same by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi).In August, the Registrar of Companies (ROC) had approved the financial services company's application for a three-month extension to hold the AGM to gain more clarity on Burman's open offer.However, the delay in holding the AGM has led to criticism from institutional investors, including Religare's largest shareholder, who had contested the ROC's approval for extension.

Religare Enterprises to hold 40th AGM on December 31

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