Religare Enterprises Limited (REL) has been informed that its material subsidiary, Care Health Insurance Limited (CHIL), has received an order from the Insurance Regulatory and Development Authority of India (IRDAI) imposing a penalty of ₹1 crore. The penalty was levied following an inspection conducted by IRDAI for the period between August 30, 2021, and September 09, 2021. The order, dated December 15, 2025, was received by CHIL on the same date. The penalty relates to certain violations observed during the inspection, after considering the submissions made by CHIL. The details of the violations include breaches of various regulations concerning policyholder interests, corporate governance guidelines, IT circulars, and financial statement preparation. The specific violations range from warnings and advisories to a significant penalty of ₹1 crore. The penalty amount, if required to be paid, is payable by CHIL. The financials of CHIL are consolidated with REL.
