Religare Enterprises Limited — Important, 06-02-2025: General Updates

Care Health Insurance Limited (CHIL), a subsidiary of Religare Enterprises, has received a tax demand order from the GST & Central Excise office in Chennai. The order pertains to the period from July 2017 to March 2022 and cites short payment of GST and excess/non-reversal of Input Tax Credit as the main issues. The demand amounts to ₹22.60 lakh, with an additional penalty of ₹22.56 lakh and applicable interest. CHIL is currently assessing the situation and may pursue legal options to contest the order. This development could affect the financial outlook of the subsidiary, making it essential for investors to monitor the situation closely for any potential impacts.