The 47th metropolitan magistrate court in Mumbai has issued a non-bailable warrant against Rashmi Saluja, former chairperson of Religare Enterprises, following her repeated failure to appear in court regarding alleged irregularities in the allotment of employee stock options (ESOPs) at Care Health Insurance Ltd.
Details of the Case
The case originates from a chargesheet filed by the Economic Offences Wing (EOW) against Saluja and three others: former Religare finance chief Nitin Aggarwal, ex-group general counsel Nishant Singhal, and Mumbai-based office assistant Vaibhav Gawli. The allegations involve irregular ESOP allotments at the insurance subsidiary during a period of corporate control battle between Religare's management and the Burman family.
Legal Proceedings
Saluja had challenged the EOW FIR before the Bombay High Court, describing the case as “mala fide and flawed.” However, the court directed her to appear before the trial court, stating she could not seek to proceed at her own convenience. Additional Chief Metropolitan Magistrate Abhijit Solapure noted that despite the court taking cognizance of the offence in August 2025, Saluja repeatedly failed to appear.
The non-bailable warrant underscores the court's stance on ensuring compliance with legal proceedings. The case highlights the complexities surrounding corporate governance and regulatory compliance in India's financial sector.
