Religare Enterprises Limited — Important, 24-10-2024: Disclosure of material issue

Religare Enterprises Limited has announced that the Reserve Bank of India rejected the appointment of Rakesh Asthaana as a director due to undisclosed reasons. Despite his extensive experience in law enforcement and investigations, the company faced oversight in disclosing the RBI's refusal amid preparing for regulatory applications related to a potential change in management. The situation remains under consideration for possible follow-up with RBI.