Former Religare Enterprises executive chairperson Rashmi Saluja has sought additional time before the Securities Appellate Tribunal (SAT) in her appeal against a SEBI insider-trading order. The matter has now been adjourned and is scheduled for hearing on October 9.
The case pertains to Saluja’s sale of Religare Enterprises shares on September 21 and 22, 2023, just days before the Burman Group announced its open offer for the company on September 25. SEBI has alleged that Saluja was aware of the impending open offer at the time of the transactions and was therefore in possession of unpublished price-sensitive information (UPSI).
In its final order issued in May 2026, SEBI held that Saluja’s trades enabled her to avoid losses of ₹1.99 crore. The regulator directed her to disgorge the amount, along with interest at 12 per cent per annum, and imposed a penalty of ₹40 lakh.
Published on October 1, 2026
