Religare Enterprises Limited — Important, 04-02-2025: General Updates

Care Health Insurance Limited (CHIL), a subsidiary of Religare Enterprises Limited, has received a significant GST demand order of approximately ₹17.68 crore (cr) along with an equivalent penalty from the CGST Commissionerate, Faridabad. This order pertains to the period from July 2017 to March 2024 and relates to non-payment of IGST on insurance policies provided to units in Special Economic Zones (SEZ). CHIL is currently assessing the details of the order and determining the next steps. This situation could lead to potential operational and financial impacts for the company, which investors should monitor closely as further developments unfold.