RBI grants approval for appointment of 4 directors on the board
Religare Enterprises has received a letter from the RBI granting approval for the appointment of 4 individuals to its Board as Directors.
By ScoutQuest · · 3 min read
- Directors Approved
- 4 individuals appointed as Additional Directors (Non-Executive and Non-Independent)
- Effective Date
- November 03, 2026
- Term
- a period not exceeding 5 years from the date of appointment
Regulatory clearance received
Religare Enterprises has received a letter from the Reserve Bank of India granting approval to the appointment of certain individuals to the Board of the Company as Directors, for a period not exceeding 5 years from the date of their appointment. The appointment is with reference to the company's earlier announcement of November 13, 2025, when these names were put forward as Additional Directors (to be designated Non-Executive and Non-Independent Director), subject to receipt of prior approval from the RBI.
- The RBI letter is dated November 03, 2026.
- The appointments are effective from November 03, 2026 — the same day.
- The term runs for a period not exceeding 5 years from the date of appointment.
Who joins the board
- Dr. Anand Chand Burman (DIN: 00056216): Appointed as Additional Director, designated Non-Executive and Non-Independent Director, liable to retire by rotation. Described as Chairman Emeritus of Dabur India, a trained pharmacist, and a promoter and director of NBFC entities including Puran Associates Private Limited and Milky Investment and Trading Company.
- Mr. Aditya Chand Burman (DIN: 00042277): Appointed as Additional Director, designated Non-Executive and Non-Independent Director, not liable to retire by rotation. A Director on the board of Dabur India Ltd, with experience across the NBFC sector and association with Puran Associates Private Limited.
- Mr. Mohit Burman (DIN: 00021963): Appointed as Additional Director, designated Non-Executive and Non-Independent Director, liable to retire by rotation. Chairman of Dabur India Limited, with NBFC experience across several entities.
- Mr. Jimeet Vipul Modi (DIN: 05285416): Appointed as Additional Director, designated Non-Executive and Non-Independent Director, liable to retire by rotation. Founder and Group CEO of SAMCO Group, which operates across securities broking, wealth management and asset management; a qualified Chartered Accountant and Chartered Financial Analyst (CFA).
Relationships disclosed
- Dr. Anand Chand Burman is the father of Mr. Aditya Chand Burman.
- Mr. Mohit Burman is the nephew of Dr. Anand Chand Burman and cousin brother of Mr. Aditya Chand Burman.
- Mr. Jimeet Vipul Modi's relationship column is marked NIL.
What the board composition looks like
All four join as Non-Executive and Non-Independent directors, which means they sit on the board in a non-executive capacity and are not classified as independent directors. Three of them carry rotation terms (liable to retire by rotation); one — Mr. Aditya Chand Burman — does not.
The update adds that Dr. Anand Chand Burman, Mr. Aditya Chand Burman, Mr. Mohit Burman and Mr. Jimeet Vipul Modi are not debarred from holding the position of Director in any listed company by virtue of any SEBI orders or any other authority.
What it means for investors
This is a board-level change that has now cleared its regulatory condition — the appointments were earlier subject to RBI approval and have become effective on receipt of that approval. The profiles point to a board mix drawing on the Burman family's consumer and NBFC experience alongside a financial-services entrepreneur. As non-executive, non-independent directors, their role is at the board and committee level rather than in day-to-day management. The specific committees each director is placed on, and any remuneration terms, are separate disclosures from this one.
Also from Religare Enterprises
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4 Nov 2026
CRISIL upgrades long-term rating to BBB+/Stable, short-term to A2+ for subsidiary's Rs. 500 Crore facilities
4 Nov 2026
Material subsidiary Care Health Insurance allots Rs. 150 crore subordinated debentures at 10.50%
30 Oct 2026
More numbers
- Individuals appointed to the Board as Directors4
- Term of appointment (period not exceeding)5 years
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