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Dr. Mallikarjun Goda has resigned as Director and Chief Compliance Officer of Religare Enterprises, effective at the close of business. In his resignation, he cited untenable changes in the stance of the Independent Directors regarding regulatory issues following an open offer announced in September 2023. This has raised concerns over the ongoing regulatory investigations, leaving the company's position vulnerable. The loss of Dr. Goda could impact operations by creating uncertainty within compliance management. Investors may view this leadership change as a negative signal amidst ongoing regulatory challenges, amplifying risks related to governance and compliance.