Date: August 7, 2026
Scheme of Arrangement Update
Religare Enterprises Limited (REL) provides update on the Scheme of Arrangement involving transfer of the Demerged Undertaking to Religare Finvest Limited (RFL) pursuant to Sections 230 to 232 read with Section 52, Section 66 and other applicable provisions of the Companies Act, 2013.
Regulatory Status
The Company and RFL had made applications to the Reserve Bank of India (RBI) seeking no-objection/prior approval for the Scheme.
REL has received a letter dated August 6, 2026 from RBI conveying that "the request has not been acceded to."
RFL received a similar communication dated August 7, 2026 regarding the same matter.
Future Actions
REL and RFL shall engage with the Regulator and provide further clarifications as may be required regarding the rejected Scheme.