Religare Enterprises Limited (REL) announced that its material subsidiary, Care Health Insurance Limited (CHIL), has received a Show Cause Notice (SCN) dated March 02, 2026, from the Insurance Regulatory Development Authority of India (IRDAI). The SCN is a result of a thematic onsite inspection conducted on CHIL from February 10, 2025, to February 14, 2025. IRDAI had previously issued observations following the inspection, to which CHIL had already submitted a reply. CHIL is currently undertaking remedial actions and preparing its response to the Show Cause Notice. The notice alleges violations of several master circulars and regulations pertaining to insurer operations, policyholder interests, health insurance, and actuarial functions. Despite the notice, Religare Enterprises Limited stated that there is no material impact on its financials, operations, or other activities. Any potential penalty, if adjudicated, would be borne by CHIL. The financials of CHIL are consolidated with those of REL.
