Mumbai (08.10.2024):Religare Enterprises' (REL) application to appoint Rakesh Asthana (Retd IPS: 1984: GJ) to its board has been rejected by the Reserve Bank of India (RBI). Asthana is a former Delhi Police Commissioner and CBI Special Director and also former ad-hoc DG of Narcotics Control Bureau (NCB).
The REL board appointed Asthana as an additional director, designated as a whole-time director, in November 2023 which was subject to approval of shareholders and regulatory authority. Asthana had been appointed as Additional Director to be redesignated as a whole-time director on the board but it needed approval of RBI. One of the shareholders of the company called the appointment of Asthana as illegal after the expiry of three-month period.
Mumbai (08.10.2024):Religare Enterprises' (REL) application to appoint Rakesh Asthana (Retd IPS: 1984: GJ) to its board has been rejected by the Reserve Bank of India (RBI). Asthana is a former Delhi Police Commissioner and CBI Special Director and also former ad-hoc DG of Narcotics Control Bureau (NCB).
The REL board appointed Asthana as an additional director, designated as a whole-time director, in November 2023 which was subject to approval of shareholders and regulatory authority. Asthana had been appointed as Additional Director to be redesignated as a whole-time director on the board but it needed approval of RBI. One of the shareholders of the company called the appointment of Asthana as illegal after the expiry of three-month period.
