Religare confirms ED raids on its senior officials
ED) had raided the residences of its top officials, including y Dr. Rashmi Saluja, Executive Chairperson, Mr. Nitin Agarwal, Group CFO, Mr. Nishant Singhal, Group General Counsel of Religare Enterprises Limited (REL/ Company) and Mr. Chirag Jain, Chief Operating Officer of Religare Finvest Limited (Wholly owned subsidiary of the Company), on August 21, 2024, in a press release.
ET had earlier reported that the ED had seized several documents including the demat and bank accounts of these officials.
The press release said that no incriminating documents/digital device was found and seized during the search. It added that the officials cooperated with the ED officials providing them with the requisite information/documents.
However, the ED has frozen the ESOP Shares of Care Health Insurance Limited, the health insurance subsidiary of the Company (CHIL), received by Dr. Rashmi Saluja, Mr. Nitin Aggarwal and Mr. Nishant Singhal, said the release.
The release further said thatthe persons searched, the questions asked during the search and the ESOP Shares frozen not related to the FIR or the predicate offence as discernible from the FIR.
The ED's case originated from a first information report (FIR) filed by Vaibhav Gawli, an office assistant at a pet cafe in Mumbai, alleging that funds were siphoned from Religare Finvest. The complaint accused former REL promoters Shivinder Singh and Malvinder Singh, and certain
