RBI rejects Rakesh Asthana's appointment to REL board

The Reserve Bank of India has rejected Religare Enterprises' attempt to appoint Rakesh Asthana to its board. This followed a complaint from the Burman family, who hold a significant stake in REL, citing procedural irregularities. The dispute has escalated to legal actions, with the Delhi High Court involved. The company's management is amid a power tussle with the Burman family.