Mumbai, Oct 09: Religare Enterprises' application to appoint Rakesh Asthana (Retd IPS: 1984: GJ) to its board has been rejected by the Reserve Bank of India.
Asthana is a former Delhi Police Commissioner and CBI Special Director and also former ad-hoc DG of Narcotics Control Bureau.
The REL board appointed Asthana as an Additional Director, designated as a whole-time Director, in November 2023 which was subject to approval of shareholders and regulatory authority.
Asthana had been appointed as Additional Director to be redesignated as a whole-time director on the board but it needed approval of RBI. One of the shareholders of the company called the appointment of Asthana as illegal after the expiry of three-month period.
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