Back'Bid to block Religare acquisition': Burman family slams ‘arm twisting’ FIR linking Dabur to Mahadev betting app case
The Dabur group denies receiving any formal communication regarding the FIR and calls it false and baseless. They believe the accusation was made to hinder their acquisition of Religare Enterprises.
PremiumMembers of the Dabur group have issued a rebuttal after reports linked its chairman and director to the Mahadev betting app case. The Mumbai Police has reportedly booked 32 people – including Mohit Burman and Gaurav Burman – under various sections of fraud and gambling. A spokesperson for the Burman family however dubbed it a ‘baseless’ accusation that happened to coincide with their bid to acquire Religare Enterprises.
“We have not received any formal communication on any such FIR. However, we have sighted the FIR which is being circulated to media houses. The FIR is patently false and baseless. Nothing could be further from the truth than as wrongly stated in the FIR," the spokesperson said.
The spokesperson also asserted that the FIR was a “step provoked by vested interests in an attempt to block the acquisition of Religare Enterprises Limited by Burman family".
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The Dabur promoters had recently sought a probe into the sale of Religare shares by Chairman Rashmi Saluja. Entities controlled by the family wrote to Sebi and stock exchanges last week and contend that Saluja sold her shares immediately after the Burman family disclosed their plans to make an open offer.
“Curiously, the FIR comes at a time when the Burman Family has sought to increase its existing shareholding of 21.24 % in Religare Enterprises and launched a legitimate open offer under the SEBI Takeover Code," the statement noted.
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Burman family entities collectively hold 21.24% of REL at present. In September they had announced a ₹2,116 crore open offer to the shareholders of REL to acquire up to 26% stake in the company. The complainants assert that Saluja sold 12.93 lakh shares on September 21 and 22 – a day after meeting representatives.
“The Burman Family remains shocked at these ‘arm twisting’ moves, which are grossly illegal. Nevertheless, we remain resolute that we will proceed with our acquisition of Religare Enterprises as contemplated," Tuesday's statement concluded.
(With inputs from agencies)
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