Religare Enterprises has withdrawn its appeal at the NCLAT against a competition watchdog CCI order that allowed four Burman group entities to acquire a 5.27 per cent stake in the financial services firm.
The move comes after the Burman Family, through its investment firms, gained a controlling stake in Religare Enterprises Limited (REL) after acquiring 25.16 per cent of equity shares through an open offer.
The total holding of Burman family, which also owns FMCG firm Dabur and Eveready, now exceeds 50 per cent, consolidating their position as the largest shareholders in the company.
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