A Mumbai court has granted bail to Religare Enterprises executive chairperson Rashmi Saluja in a cheating and conspiracy case being investigated by the Economic Offences Wing (EOW), while also pulling up her conduct during the proceedings.
The case revolves around alleged irregularities in the allotment of Employee Stock Ownership Plans (ESOPs) at Care Health Insurance Ltd (CHIL), a subsidiary linked to Religare Enterprises. Investigators claim the stock options were distributed in a manner that allegedly benefited the accused while causing financial harm to the company and its stakeholders.
Saluja, along with three others, was chargesheeted by the Mumbai Police’s EOW in August last year under provisions dealing with cheating and criminal conspiracy.
The bail order was passed on May 7 by the court of the Additional Chief Judicial Magistrate in Mumbai. The judge noted that Saluja had never been arrested during the course of the investigation and that the investigating officer did not oppose her bail plea.
At the same time, the prosecution argued that there remained a possibility of her absconding or influencing evidence if released.
The court also expressed displeasure over Saluja’s repeated absence from proceedings. The magistrate observed that despite being aware of the case, she failed to appear before the court even after the dismissal of her petitions before the Bombay High Court earlier this year.
Her earlier pleas had sought quashing of both the EOW FIR and the Enforcement Directorate’s parallel money laundering probe. Those petitions were rejected in January 2026.
The magistrate noted that a non-bailable warrant had eventually been issued against her on April 30, following which she appeared before the court.
While remarking that her “conduct speaks in volumes,” the court ultimately decided that custodial detention was unnecessary since she had not been arrested during the investigation and had now undertaken to cooperate with the proceedings.
Bail was granted on a personal bond of ₹3 lakh along with solvent sureties of the same amount.
The court imposed several conditions on Saluja, including a restriction on leaving India without prior court approval. She has also been directed not to interfere with evidence, remain present for all hearings, and furnish proof of permanent residence along with contact details of two relatives.
