Regarding the granting of stock options to Religare Enterprises subsidiary Care Health Insurance, Rashmi Saluja, the chairman of Religare, has received a show-cause notice from India’s insurance regulator, IRDAI.
According to the notice, Care Health Insurance disregarded Saluja’s May 2022 rejection and instead gave her stock options, in violation of IRDAI directives. Despite being a non-executive director at Care, Saluja, the executive chairperson at Religare, was given these choices as an employee.
Religare Enterprises has received a show-cause notice from the insurance regulator in India. people with knowledge of the development about the awarding of stock options to Religare chairperson Rashmi Saluja’s subsidiary, Care Health Insurance (Care).
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