RBI rejects Rakesh Asthana’s appointment to Religare’s board

RBI rejects Rakesh Asthana’s appointment as director on Religare Enterprises’ board, leading to conflict with Burman family. The board initially approved the appointment in November, but failed to obtain necessary approvals. The company is now facing regulatory issues and investigations, with failure to disclose the rejection and ongoing power struggle between management and Burman family.