Burman Group News Today

Two other major IPOs to look out for are Mini Ratna company Indian Renewable Energy Development Agency, and Fedbank Financial Services. As for the Nifty50, analysts expect the index to remain in a consolidation phase until it decisively breaches the 19,850 mark. On Friday, the index ended 0.2% down at 19,731.80 points.

As the Dabur family, now being spearheaded by the fifth generation, spreads its bets beyond its traditional FMCG and Ayurvedic business, it has run into trouble with the law. Recently, an FIR by Mumbai police into the Mahadev betting app has named Dabur chairman Mohit Burman and director Gaurav Burman. However, both have denied any links to the case.

As the Dabur family, now being spearheaded by the fifth generation, spreads its bets beyond its traditional FMCG and Ayurvedic business, it has run into trouble with the law. Recently, an FIR by Mumbai police into the Mahadev betting app has named Dabur chairman Mohit Burman and director Gaurav Burman. However, both have denied any links to the illegal betting case.

Religares independent directors have alleged that the Burmans are in material breach of regulatory obligations that may harm the firm. Of the six-member board, five are independent. They are Malay Kumar Sinha, Hamid Ahmed, Praveen Kumar Tripathi, Ranjan Dwivedi and Preeti Madan. The board is led by executive chairperson Rashmi Saluja.

Religares independent directors have alleged that the Burmans are in material breach of regulatory obligations that may harm the firm. Of the six-member board, five are independent. They are Malay Kumar Sinha, Hamid Ahmed, Praveen Kumar Tripathi, Ranjan Dwivedi and Preeti Madan. The board is led by executive chairperson Rashmi Saluja.

The independent directors of Religare Enterprises Ltd (REL) have written to regulators such as RBI, Sebi and the insurance watchdog, levelling allegations of fraud and other breaches against the Burman family, which had made an open offer in September to acquire control of the company.

Sebi has also asked REL to provide evidence and documents to back the allegations made in an October 18 letter. It also sought the response of JM Financial, who are the managers of the open offer, as mentioned in the report.

​We have not done anything extraordinary except that we have held on to the governance, we have held on to the compliances, and of course along with a very robust business plan which is not aggressive and yet it is not a conservative plan.

Stocks in news: Tata Elxsi, Angel One, Reliance Industries, ACC, Coal India, Zydus Lifesciences, Larsen & Toubro, ONGC, Larsen & Toubro Infotech and more

After this acquisition, the holding of the Burman Group has now increased to 20.18 per cent from 20.07 per cent earlier.