Quick Summary: Dr. Rashmi Saluja, involved in a legal fight over claims of financial wrongdoing, faced a setback as the Bombay High Court dismissed her petitions. The case revolves around accusations of poor handling of money and illegal gains through employee stock options.
Dr. Rashmi Saluja, the Executive Chairman of Religare Enterprises Limited (REL), filed two legal requests against the State of Maharashtra and the Directorate of Enforcement (ED). She challenged a police report registered on September 6, 2024, and wanted to stop related actions under the Prevention of Money Laundering Act, 2002.
A public shareholder, Vaibhav Jalinder Gawali, filed a complaint on November 11, 2023, at Matunga Police Station. The complaint accused former directors and the Burman family of fraudulently increasing their shareholdings in REL. A police report was filed against Saluja, alleging her involvement in creating a false case against the Burman family to block their control over REL.
The case was heard by Chief Justice Shree Chandrashekhar and Justice Gautam A. Ankhad. Saluja's lawyer argued that the police report was baseless and went against the Companies Act. They claimed the ED's actions were planned and targeted. The ED argued that the police report was valid and based on strong evidence.
The court found no legal reason to stop the police report, noting the investigation revealed Saluja's involvement in financial wrongdoing. It was alleged she gained illegal financial benefits through employee stock options at undervalued prices. The court dismissed the petitions, stating the police report and subsequent actions were lawful.
The court determined that the accusations against Dr. Rashmi Saluja were serious and supported by evidence. Her petitions were dismissed, confirming the validity of the police report and the ongoing investigation by the ED.
