look news india
Investigating agency Enforcement Directorate (ED) has summoned Dabur India Chairman Mohit Burman, three independent directors of Care Health Insurance and the manager of the open offer.
The ED has issued summons to Religare Enterprises (REL) shareholders in connection with its ongoing probe into money laundering allegations related to the Burman family's open offer.
The investigation relates to the investment of funds withdrawn from Religare Finvest, a non-banking financial company (NBFC) under the Religare Group, in companies linked to the open offer. The investigation has been conducted following a complaint filed by a REL shareholder. The complaint accuses the Burman family of making false claims. It is also alleged that shareholders were misled regarding the open offer. So that investors could be induced to sell their shares. The complaint also states that the shareholders were not fully aware of the risks involved in this open offer. Therefore, the complainant bought the company's stocks on this basis but suffered financial losses.
