Delhi HC rejects Rashmi Saluja’s plea against Religare AGM

New Delhi: Delhi High Court’s division bench on Thursday rejected an appeal by Religare Enterprises Ltd’s Executive Chairman Dr. Rashmi Saluja, challenging a single-judge order refusing to halt voting on a resolution at the company’s AGM that may result in her removal.

“We find no infirmity in the order of the single judge. Appeal dismissed,” a Division Bench comprising Justices Rekha Palli and Saurabh Banerjee said

Saluja filed a suit challenging a proposed resolution at the upcoming 40th AGM, seeking to appoint a new director in her place.

She argued that the resolution is illegal & violates the Companies Act 2013, and contravenes an RBI directive issued on December 9, 2024, which prohibits changes in REL’s management.

It was argued that the proposed resolution for her reappointment is unnecessary and unlawful, as her current term extends until February 25, 2028.

She contended that her fixed-term of appointment under Section 196 of the Companies Act exempts her from retirement by rotation under Section 152(6), making the resolution invalid. Saluja thus sought for permanent injunctions to prevent her removal and to stop the voting on resolution at the AGM.