InGovern raises concern over AGM delay; Religare calls report manipulative

Proxy advisory firm InGovern has raised concern over Religare Enterprises postponing its 40th annual general meeting "without any valid reason" and has sought a Sebi probe into the matter, but the company termed the report manipulative.

The regulator may examine the decision-making processes that led to the delay, as well as the company's actions regarding share allotments and Employee Stock Ownership Plans (ESOPs), the advisory firm said in a report.

Responding to the report, Religare Enterprises chairperson Rashmi Saluja said, "The report is manipulative in nature and is a malicious attempt to hurt the credibility of the company and its leadership. We are compliant with all laws and regulations and continue to uphold the sanctity of the High Court of Delhi, and hence will not be able to speak on matters which are sub-judice."

"Short selling is becoming a trend to undermine the growing potential of Indian companies under different reasons and we would like really to understand the