Religare Enterprises Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
RELIGARE · price
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Religare Enterprises' material subsidiary Care Health Insurance Limited (CHIL) had challenged a GST demand order dated December 31, 2023, issued by the Central GST authorities in Chandigarh, before the Bombay High Court. The original order related to alleged non-payment of GST on co-insurance premiums (where the leader insurer already paid 100% GST) and on reinsurance commissions, covering the period July 2017 to March 2022. These are described as industry-wide issues affecting multiple insurers. The Bombay High Court, through an order dated June 30, 2025, has directed the Adjudicating Authority to reassess its original order. CHIL's financials are consolidated with Religare Enterprises, so any impact would flow through to the parent company.
This is a positive development for shareholders as the court has intervened in CHIL's favour, ordering a reassessment of the GST demand instead of letting the original order stand. The actual financial impact on Religare remains uncertain until the reassessment is completed, but the immediate risk of enforcement on the original demand is reduced.