InGovern raises red flags over Care Health Esops to REL's Rashmi Saluja

The source said Care Health could, therefore, pass a fresh resolution for the grant of Esops to Saluja without requiring any Irdai approval

Proxy advisory firm InGovern Research Services has called for an investigation by the Insurance Regulatory and Development Authority of India (Irdai) and the Securities and Exchange Board of India (Sebi) into the remuneration and conflicts of interest of the executive chairperson of Religare Enterprises (REL), Rashmi Saluja, regarding her receipt of employee stock options (Esops) in the company’s subsidiary, Care Health Insurance.

In a statement, InGovern claimed that Care Health, a subsidiary of REL, issued Esops to Saluja despite Irdai rejecting the application.

The proxy advisory firm further asserted that REL did not seek shareholder approval for the Care Health