InGovern raises concern over AGM delay; Religare calls report manipulative

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InGovern raises concern over AGM delay; Religare calls report manipulative - Business Standard

Quick Summary:

Proxy advisory firm InGovern has raised concern over Religare Enterprises postponing its 40th annual general meeting "without any valid reason" and has sought a Sebi probe into the matter, but the company termed the report manipulative.

The regulator may examine the decision-making processes that led to the delay, as well as the company's actions regarding share allotments and Employee Stock Ownership Plans (ESOPs), the advisory firm said in a report.

Responding to the report, Religare Enterprises chairperson Rashmi Saluja said, "The report is manipulative in nature and is a malicious attempt to hurt the credibility of the company and its leadership.