Outcome of Board Meeting

| Updated on October 26, 2016 Published on October 26, 2016

Religare Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 26, 2016, inter alia, has approved the following;

1. Appointed Mr. Nalin Nayyar as "Interim CEO” of the Company with immediate effect. He has also been designated as Key Managerial Personnel under the Companies Act, 2013.

2. Appointed Mr. Maninder Singh as Chief Business Officer of the Company with immediate effect.

3. Taken note and approved that Mr. Sunil Godhwani is not a Key Managerial Personnel under the Companies Act, 2013 with immediate effect.

4. Decided not to shift the registered office of the Company from National Capital Territory (NCT) of Delhi to State of Maharashtra. Further, it has been decided that the Registered Office of the Company will be shifted from "D3, P3B, District Centre, Saket, New Delhi - 110017" to "2nd Floor, Rajlok Building, 24, Nehru Place, New Delhi - 110019" w.e.f. December 01, 2016.

5. Approved the proposal to acquire additional 24.82% stake (10,192,500 equity shares) of Religare Arts Initiative Limited (RAIL), a subsidiary of the Company in which the Company has a 75.18% stake as on date, on such terms and conditions as may be agreed upon from the minority shareholder of RAIL at a nominal consideration of Re. 1/-. Post-acquisition, RAIL will be wholly-owned subsidiary of the Company. The said transaction is not a related party transaction. Transaction is expected to close in first week of November 2016.

In this regards the Company has submitted to BSE a copy of Press Release.

Pdf Link: >Outcome of Board Meeting

Source : BSE - >www.bseindia.com

Published on October 26, 2016
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