RELIGARE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Care Health Insurance Limited (CHIL), a material subsidiary of Religare Enterprises Limited, has received a Rectification Order dated April 28, 2026, under Section 154 of the Income-Tax Act, 1961. The order corrects a technical error in the original 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 the authority upheld after verification. However, a separate appeal against the assessment additions for AY 2023-24 was already filed earlier and remains pending adjudication. The financials of CHIL are consolidated with Religare Enterprises Limited.
The reduction in tax liability by nearly 50% is a positive development for Religare Enterprises, as it lowers the potential financial burden on its material subsidiary. However, shareholders should note that the tax dispute is not fully resolved, as a separate appeal is still pending.