Leadership Shake-Up: Hamid Ahmed Resigns from Religare Board Amidst Burman Family's Acquisition Moves

Hamid Ahmed, CEO of Hamdard Laboratories India, has resigned as an independent director from Religare Enterprises due to family business commitments. The resignation follows the Burman family's bid for a 26% stake in Religare and subsequent allegations of insider trading against company leaders.


Devdiscourse News Desk | New Delhi | Updated: 05-02-2025 21:57 IST | Created: 05-02-2025 21:57 IST
Leadership Shake-Up: Hamid Ahmed Resigns from Religare Board Amidst Burman Family's Acquisition Moves
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Hamid Ahmed, the CEO of Hamdard Laboratories India's Foods Division, has stepped down as an independent director of Religare Enterprises, effective February 4, 2025, citing increased responsibilities in his family's business.

This resignation surfaces amidst an open offer by the Burman family, well-known for their association with Dabur India, to acquire a 26% stake in Religare, resulting in regulatory complaints and allegations of insider trading by the company's chairperson.

The situation escalated with independent directors of Religare raising concerns about potential fraud and regulatory breaches which have been brought to the attention of various regulatory bodies, including SEBI, RBI, and the Insurance Regulatory and Development Authority.

(With inputs from agencies.)

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