NEW DELHI: The RBI has rejected Religare Enterprises’ proposal to appoint Ashok Mehta and Ashwani Mehta to its board, the company informed the stock exchanges on Tuesday.
“The Reserve Bank of India vide its letter dated July 15, 2019 has communicated that the company’s request for appointment of Ashok Mehta and Ashwani Mehta as non-executive non-independent directors has not been acceded to,” the filing said.
Religare has been in the midst of controversy for a while now, figuring prominently in the tussle between erstwhile promoter brothers.