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

Care Health Insurance Limited (CHIL), a subsidiary of Religare Enterprises Limited, has received a substantial tax demand order from the CGST Commissionerate. The order, impacting various states, involves a total claim of approximately ₹30.94 Cr for the disallowance of Input Tax Credit related to specific marketing expenses from July 2017 to March 2023. In addition to the demand, a matching penalty has also been imposed, and interest under the relevant tax provisions is applicable. CHIL is currently assessing the situation and is considering pursuing an appeal or other legal options regarding this order. The outcome could significantly affect the subsidiary's financial position, warranting close monitoring by investors.