Religare Enterprises Limited has informed stock exchanges that its material subsidiary Care Health Insurance Limited (CHIL) has received a favorable stay order from the Hon'ble Bombay High Court regarding a significant GST demand matter. The development provides temporary relief to the subsidiary in a case involving substantial financial implications.

Court Stay Order Details

The Hon'ble Bombay High Court issued the stay order on March 26, 2026, which CHIL received through its tax advisors on March 28, 2026. The stay order pertains to a writ petition filed against the original order issued by the Office of the Assistant Commissioner of Goods and Services Tax, Faridabad.

GST Demand and Penalty Structure

The original order from the GST authorities covers the period from FY 2017-18 to 2023-24 and relates to SEZ (Special Economic Zone) matters. The financial implications are substantial, involving both demand and penalty components.

Regulatory Compliance and Impact

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows an earlier announcement made on February 04, 2025, regarding the same matter.

Key regulatory details include:

• The matter involves industry-wide issues affecting multiple entities
• The applicable period spans from July 2017 to March 2024
• Currently, there is no financial impact at this stage due to the stay order
• No immediate penalties or restrictions are imposed pursuant to the court communication

Corporate Structure Context

Care Health Insurance Limited operates as a material subsidiary of Religare Enterprises Limited, the listed entity. The parent company has taken appropriate steps to inform stakeholders about developments affecting its subsidiary, maintaining transparency in corporate governance and regulatory compliance.

The stay order provides breathing room for CHIL to contest the GST demand through proper legal channels while business operations continue without immediate financial burden from the disputed amount.

Religare Enterprises announced key leadership appointments following a board meeting held on March 30, 2026. The company's Board of Directors approved the appointment of Mr. Arjun Lamba as Executive Director and designated Mr. Rajender Mohan Malla as Non-Executive Chairperson, marking significant changes in the company's leadership structure.

Executive Director Appointment

The board approved Mr. Arjun Lamba's appointment as Whole Time Director, designated as Executive Director, for a five-year term effective from April 01, 2026. The appointment follows the recommendation of the Nomination & Remuneration Committee and remains subject to shareholder approval.

Leadership Profile

Mr. Arjun Lamba brings extensive experience to his new role as founder of Guardian Advisors Private Limited, a SEBI-registered Portfolio Management Services firm established in 2005. With over 23 years of experience in India's capital markets, he has developed deep expertise in equity investing and portfolio management.

Key aspects of his professional background include:

• Industry Experience: Guardian Advisors is among the oldest PMS providers in India, focusing on high-net-worth individuals and corporates in Indian public equity markets
• M&A Expertise: Extensive experience in mergers and acquisitions, playing critical roles in acquisitions of Eveready Industries and Religare Enterprises for the Burman Family
• Board Positions: Currently serves on multiple boards including Eveready Industries India Limited (since September 2022), KPH Dream Cricket Pvt. Ltd. (IPL team Punjab Kings owner), and various Religare group companies
• Education: Holds a BBA degree from École Les Roches, Switzerland

Chairperson Designation

The board also approved the appointment of Mr. Rajender Mohan Malla, currently a Non-Executive & Independent Director, as Non-Executive Chairperson. His tenure as Chairperson will run from April 01, 2026 to June 30, 2026.

Regulatory Compliance

The appointments were disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 03:30 p.m. and concluded at 04:20 p.m. on March 30, 2026.

Mr. Lamba is confirmed to be not debarred from accessing capital markets and not restrained from holding directorial positions in listed companies by SEBI or any other regulatory authority. The company has provided complete disclosure details as prescribed under the SEBI Listing Regulations.