Religare Enterprises Limited has informed the Exchange about General Updates
RELIGARE · price
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Care Health Insurance Limited (CHIL), a material subsidiary of Religare Enterprises, has received a Rectification Order dated April 28, 2026, under Section 154 of the Income Tax Act. The order corrects a technical error in the previous tax demand for Assessment Year 2023-24, reducing the net tax liability from Rs. 89.02 crore to Rs. 45.16 crore—a reduction of Rs. 43.86 crore. CHIL had filed an application for rectification of a mistake apparent from records, which was upheld by the authority. Additionally, CHIL has separately filed an appeal against the assessment order additions, which remains pending adjudication. The financials of CHIL are consolidated with Religare Enterprises.
The significant reduction in tax liability is a positive development for Religare Enterprises shareholders, as it lowers the financial burden on its material subsidiary. However, the pending appeal introduces some continued uncertainty around the ultimate tax liability.