Religare Enterprises Limited has informed the Exchange about General Updates
RELIGARE · price
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Religare Enterprises' material subsidiary Care Health Insurance Limited (CHIL) received two Income-tax orders dated March 17, 2026, for Assessment Years 2023-24 and 2024-25, raising a cumulative demand of Rs. 140.20 Crores (including interest). CHIL believes the demand was incorrectly computed and expects it to reduce to approximately Rs. 96 Crores after filing a rectification application. The tax authority disallowed provisions for IBNR/IBNER claims, unsettled claims, non-deduction of TDS on certain expenses, and marketing/advertising expenses. CHIL notes that similar disallowance issues have previously been ruled in its favour by the Delhi High Court, ITAT Delhi, and CIT(A), and has described the issues as industry-wide. CHIL plans to file both a rectification application and an appeal before the appropriate forum.
Since CHIL's financials are consolidated with Religare Enterprises, a large adverse tax outcome could pressure consolidated earnings and create near-term uncertainty around the stock. However, with CHIL contesting the order, prior favourable rulings on similar issues, and an expected downward revision to roughly Rs. 96 Crores post-rectification, the actual cash impact may be materially lower. Investors should monitor the rectification and appeal progress over the coming months.