Mumbai Police EOW Files 3,000-Page Chargesheet Against Ex-Religare Chairperson Rashmi Saluja In ESOP Case

Mumbai Police EOW Files 3,000-Page Chargesheet Against Ex-Religare Chairperson Rashmi Saluja In ESOP Case

The case stems from a dispute over ESOP allotments to Saluja that escalated into a bitter legal tussle between Religare’s management and the Burman family, who were attempting a takeover of the financial services group.

Poonam AprajUpdated: Wednesday, August 20, 2025, 12:01 AM IST
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Religare Chairperson Rashmi Saluja | File Photo

Mumbai: The Economic Offences Wing (EOW) of the Mumbai Police has filed a nearly 3,000-page chargesheet against former Religare Enterprises chairperson Rashmi Saluja and three others over alleged irregularities in the allotment of employee stock options (ESOP) at Care Health Insurance Ltd.

About The Chargesheet

The chargesheet, submitted before a local magistrate’s court, names Saluja, former Religare CFO Nitin Aggarwal, ex-group general counsel Nishant Singhal, and Mumbai-based office assistant Vaibhav Gawli.

The case stems from a dispute over ESOP allotments to Saluja that escalated into a bitter legal tussle between Religare’s management and the Burman family, who were attempting a takeover of the financial services group.

According to investigators, the Enforcement Directorate (ED) had earlier flagged the alleged misuse of ESOPs, claiming Saluja and her associates conspired to derail the Burmans’ bid. The ED also accused them of orchestrating a police complaint filed by Gawli, who was allegedly promised cash and company shares in return.

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