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The Enforcement Directorate (ED) has registered an FIR against Religare chief Rashmi Saluja and two others for their alleged role in a false case against Dabur Group's Burmans and illegally obtaining gains of Rs 179 crore.
The ED has registered legal action against Saluja, the company's Chief Financial Officer Nitin Agarwal and President and General Counsel Nishant Singhal under sections 420 and 120B of the IPC. The FIR relates to the ED's investigation into the alleged money laundering case against former Religare Enterprises (REL) directors Malvinder Mohan Singh and Shivinder Mohan Singh and others. This entire legal action has been taken on the basis of a complaint by the company's shareholder Vaibhav Jalinder Gawli. After the investigation, it was alleged that the false complaint filed against Burman was aimed at derailing the company's acquisition proceedings and obfuscating the investigation into illegal financial benefits received through the acquisition of employee stock options of its subsidiary Care Health Insurance (CHIL).
The complaint alleges that Malvinder and Shivinder, in collusion with Burman, misused the assets of REL, who is also a shareholder of the company. The FIR states that when the ED was recording the statement of Gawli, the first party in the case, on August 12, he denied having any documentary evidence to prove his claim, in which a proposal to take over the company was presented. After this investigation against Gawli, his full involvement in this scam was revealed.
The FIR was registered under Section 50 of the Prevention of Money Laundering Act (PMLA), which said that the ED had investigated Gawali's account and allegedly found that transactions were made from the account as stated by Gawali. Specifically, shareholder Gawali alleged that Saluja and others allegedly gave him Rs 1.2 lakh to buy 500 shares of REL and Rs 80,000 to file a complaint against Burman.
Case File
The ED FIR names Rashmi Saluja, the group's then CFO Nitin Agarwal and president and general counsel Nishant Singhal.
The ED has filed charges under sections 420 (cheating) and 120B (criminal conspiracy) of the IPC.
The ED was probing an alleged money laundering case against former Religare Enterprises (REL) directors Malvinder Mohan Singh and Shivinder Mohan Singh and others based on a complaint by a shareholder.
The shareholder has alleged that Saluja and others allegedly gave him Rs 1.2 lakh to buy 500 shares of REL and Rs 80,000 to file a complaint against Burman.
The false complaint filed against the Burmans was aimed at derailing the company's takeover proceedings and to obfuscate the investigation into illegal pecuniary benefits obtained through acquisition of employee stock options of its subsidiary Care Health Insurance (CHIL).