Mumbai, July 29, 2026: The special Prevention of Money Laundering Act (PMLA) court on Wednesday granted bail to Dr Rashmi Saluja, former Executive Chairperson of Religare Enterprises Ltd (REL) and Non-Executive Chairperson of Care Health Insurance Ltd (CHIL), who has been booked in connection with a money laundering case being probed by the Enforcement Directorate (ED).

ED Alleges ESOP Irregularities

The ED last year filed a prosecution complaint alleging money laundering to the tune of Rs 179.54 crore against Saluja; Nishant Singhal, former President and General Counsel at REL; Nitin Aggarwal, former Group CEO, REL; Vaibhav Gawli, office assistant at Happy Tail Pet Café; and Pratap Venugopal, former retainer for REL and Independent Director at CHIL.

The ED's counsel, Arvind Aghav, submitted that Saluja, in collusion with Singhal and Aggarwal, used her position to make unlawful gains through Employee Stock Option Plans (ESOPs) of CHIL.

According to the ED, she approved her own name, along with those of Singhal and Aggarwal, for CHIL ESOPs without discussion or prior approval from the boards or managements of REL and CHIL.

Saluja's lawyer, Sudeep Passbola, contested the ED's claims and argued that the court did not have jurisdiction. The court had taken cognisance of the prosecution complaint and issued notice to Saluja.

In response to the notice, Saluja appeared before the court on Wednesday. She was formally taken into custody, after which her lawyer sought bail. The plea was opposed by the prosecution.

Court Grants Bail

ED prosecutor Arvind A. Aghav argued that the accused, in connivance and collusion with each other, assisted in laundering the proceeds of crime. He submitted that the investigation was still in progress and that the prosecution complaint specifically detailed the role of each accused. He further argued that the economic offence allegedly committed by the accused should be dealt with strictly.

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ED Money Laundering Case: Special PMLA Court Grants Bail To Former Religare Chairperson Dr Rashmi Saluja

A Special PMLA Court granted bail to former Religare Enterprises Chairperson Dr Rashmi Saluja in the ED's ₹179.54 crore money laundering case. The court held that after taking cognisance of the complaint, investigating agencies cannot exercise the power to arrest accused named in it.