There is no shareholder representation on Religare board; the idea is to create value, not destroy it: Mohit Burman

economictimes.indiatimes.com:

Mohit Burman, Chairman, Dabur Group, says “we are decent people. We are doing everything by the book. So, we will continue getting our approvals and then at the end of the day the shareholders can decide whether they want to tender their shares into the open offer or not. I mean, all the other options which can cause any sort of problems to the acquisition, we are not looking at those.”

What is your next plan of action?
We will continue getting our regulatory approvals. We have already applied to the CCI, that should come in the next few weeks. Then, we have SEBI, IRDA and RBI. As I said, we have already met the fit and proper test for most of these regulatory bodies. So, I do not see any problem; however, with all these allegations being thrown at us, we are tackling them.

The other point is that a lot of other chunky shareholders. Have you interacted with them? Are they okay with your strategy informally?
Informally, we believe all shareholders are okay and are fine with this.

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So, why don’t we see any shareholder representation?
There is no shareholder representation on the board, yes. You have to ask them.

I am surprised at that.
Yes, there is no shareholder representation. I think you should actually speak to the other shareholders. All shareholders have been promised seats on the board. No one has been put on the board. It is being run by a fiefdom.

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