Mumbai court grants bail to Rashmi Saluja in EOW cheating case

A Mumbai court on May 7 granted bail to executive chairperson of Religare Enterprises Limited (REL), Rashmi Saluja, in a cheating and criminal conspiracy case registered by the Economic Offences Wing (EOW) of the Mumbai Police. [State through EOW v. Rashmi Saluja] 

Saluja is accused of offences under Sections 420 and 120B of the Indian Penal Code.

In August 2025, the EOW chargesheeted Saluja and three others over alleged irregularities in the allotment of Employee Stock Ownership Plans (ESOPs) at Care Health Insurance Ltd (CHIL), a subsidiary of Religare. 

Investigators allege ESOPs were allotted in a manner that caused wrongful gain to the accused and corresponding loss to the company and its stakeholders.

In January 2026, the Bombay High Court dismissed two pleas filed by Saluja seeking to quash the FIR registered by the Mumbai Police (EOW) and the subsequent money laundering probe by the Enforcement Directorate (ED).

Additional Chief Judicial Magistrate Abhijit R Solapure noted that Saluja had not been arrested during the investigation. The investigating officer also raised no objection to the bail plea.

However the prosecutor warned she might abscond or misuse her liberty to tamper with the prosecution evidence.

The magistrate took a critical view of Saluja’s failure to appear before the Court earlier. 

“Saluja did not appear even after having knowledge of this proceeding and earlier this Court did not issue any non-bailable warrant as proceeding was pending before the High Court. However, that proceeding filed by this accused was dismissed in January-2026. Even thereafter the accused did not appear before this Court and did not reveal this fact,” the magistrate observed.

However, after court passed a non-bailable warrant against Saluja on April 30, she appeared in court, the judge noted.

“The conduct of this accused speaks in volumes. However, the accused has not been arrested in the investigation of this offence and now she undertakes to remain present," the Court reasoned. 

Hence, the bail should be granted with some conditions, the Court held.

Saluja was released on a personal bond of ₹3 lakh with one or more solvent sureties of a like amount. She has been barred from leaving India without court permission, directed not to tamper with evidence, and ordered to attend every hearing while providing contact details of two relatives and proof of her permanent residence.

[Read Order]