Religare Enterprises Limited has informed the Exchange about Update to the announcement dated August 27, 2024
RELIGARE · price
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Awaiting price reaction for this filing.
Religare Enterprises' material subsidiary Care Health Insurance Limited (CHIL) received a favorable order from the Commissioner of GST & Central Excise (Appeals - I) on August 19, 2025. The appellate authority set aside an earlier order dated August 7, 2024, which had imposed a tax liability of Rs. 21.24 lakh along with a penalty of Rs. 2.16 lakh. The earlier order had been challenged by CHIL, and the appeal has now been allowed with all consequential reliefs. The total financial relief aggregates to approximately Rs. 23.41 lakh. Since CHIL's financials are consolidated with Religare Enterprises, the favorable order has a modest positive impact on the group. This filing updates the company's earlier announcement from August 27, 2024 regarding the same matter.
Positive but minor — the favorable ruling removes a pending tax liability and penalty from a key subsidiary's books, eliminating an overhang, though the absolute amount is small relative to the company.