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{{Short description|Indian financial services company}}
{{cleanup|reason=Reads like some sort of advert/investor's summary/prospectus|date=July 2017}}
{{Use dmy dates|date=May 2018}}
{{Use dmy dates|date=May 2018}}
{{use Indian English|date=September 2016}}
{{use Indian English|date=September 2016}}
{{Infobox company
{{Infobox company
| name = Religare Enterprises Limited.
| name = Religare Enterprises Limited.
| logo = Religare_logo.svg
| logo = Religare_logo.svg
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{unbulleted list|{{NSE|RELIGARE}}|{{BSE|532915}}}}
| traded_as = {{unbulleted list|{{NSE|RELIGARE}}|{{BSE|532915}}}}
| location_city = [[New Delhi]]
| location_city = [[New Delhi]]
| location_country = [[India]]
| location_country = India
| founders =
| key_people = {{unbulleted list| DevKaran singh Religare (Group CEO)<ref>{{cite news|title=Religare Board has approved appointment of Milind Patel as groups chief executive officer.|url=https://mmb.moneycontrol.com/forum-topics/stocks/religare-enterp/thread-message-65275325-67075325.html}}</ref>}}
| key_people = {{unbulleted list|Rashmi Saluja (Chairperson)<ref>{{cite news|title=Religare Board of Directors|url=https://www.religare.com/leadership-team-board-directors.aspx}}</ref>}}
| industry = [[Financial services]]
| industry = [[Financial services]]
| services = {{unbulleted list|[[SME finance]]|[[NBFC]]|Retail Broking|[[Health Insurance]]}}
| services = {{unbulleted list|[[SME finance]]|[[NBFC]]|Retail Broking|[[Health Insurance]]}}
| revenue = {{decrease}}{{INRConvert|2397|c}} (2020)<ref name="BalSheet">{{Cite web|title=Religare Consolidated Balance Sheet, Bajaj Finserv Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/religareenterprises/consolidated-profit-lossVI/RE09#RE09|access-date=14 July 2020|website=moneycontrol.com|language=en}}</ref>
| revenue = {{increase}} {{INRConvert|6235|c}} (2024)<ref name="Revenue">{{cite news |title=Religare Enterprises Ltd Profit & Loss Statement|url=https://www.moneycontrol.com/india/stockpricequote/finance-investments/religareenterprises/RE09 |work=Moneycontrol|ref=Revenue}}</ref>
| operating_income =
| net_income = {{decrease}}{{INRConvert|-932|c}} (2020)<ref name="BalSheet"/>
| operating_income = {{Decrease}} {{INRConvert|318|c}} (2024)<ref name="Revenue"/>
| net_income = {{Decrease}} {{INRConvert|347|c}} (2024)<ref name="Revenue"/>
⚫
| subsid = {{unbulleted list|Religare Finvest Ltd|Religare Broking Ltd|[[Care Health Insurance]] }}
| assets = {{Increase}} {{INRConvert|9577|c}} (2024)<ref name="Revenue"/>
⚫
| homepage = {{URL|https://www.religare.com/}}
| equity = {{Increase}} {{INRConvert|2343|c}} (2024)<ref name="Revenue"/>
⚫
| subsid = {{unbulleted list|Religare Finvest Ltd|Religare Broking Ltd|[[Care Health Insurance]] }}
⚫
| homepage = {{URL|https://www.religare.com/}}
}}
}}


'''Religare Enterprises Limited (REL)''' is an Indian investment and financial services holding company, headquartered in [[New Delhi]].<ref>{{cite web |title=Religare share price live today - Why Religare share price is falling by 0.44% today? Religare share price analysis {{!}} ETMarkets |url=https://economictimes.indiatimes.com/religare-enterprises-ltd/stocks/companyid-20026.cms |website=The Economic Times |language=en}}</ref> REL is listed on [[National Stock Exchange of India]]<ref>{{cite web |title=Religare Enterprises Limited |url=https://www.nseindia.com/get-quotes/equity?symbol=RELIGARE |website=Nseindia}}</ref> and [[Bombay Stock Exchange]].<ref>{{cite web |title=Stock Share Price BSE - REL |url=https://www.bseindia.com/stock-share-price/x/y/532915/ |website=BSE India}}</ref> It is registered with the [[Reserve Bank of India]] (RBI).<ref>{{cite web |title=Religare Chief Under Fire: IRDAI Probes Stock Option Grant, Governance in Question |url=https://www.brutimes.com/news/business/religare-chief-under-fire-irdai-probes-stock-option-grant-governance-in-question |website=Bru Times News |language=en}}</ref>
'''Religare Enterprises Limited (REL)''' is the holding company for one of India's leading diversified financial services groups, headquartered in [[New Delhi, India]]. It offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to [[Small and Medium Enterprises]] (SME)'s, affordable housing finance, as well as retail broking and health insurance. REL is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.


== History ==
== History ==
Founded in 1982, initially Religare was a stock brokerage firm called Religare Securities Ltd (RSL) and was admitted to the [[National Stock Exchange of India|National Stock Exchange]] (NSE) in 1994. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with [[National Securities Depository Limited]] (NSDL) as a depository participant.<ref>{{cite web|title=Company History - Religare Enterprises Ltd. - The Economic Times|url=http://economictimes.indiatimes.com/religare-enterprises-ltd/infocompanyhistory/companyid-20026.cms}}</ref>
Founded in 1982, initially Religare was a stock brokerage firm called Religare Securities Limited (RSL) and was admitted to the [[National Stock Exchange of India|National Stock Exchange]] (NSE) in 1994. The erstwhile promoters were Malvinder Mohan Singh and Shivinder Mohan Singh who were part of Ranbaxy Group before selling their stake in Ranbaxy to Daiichi Sankyo in 2008. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with [[National Securities Depository Limited]] (NSDL) as a depository participant.<ref>{{cite web|title=Company History – Religare Enterprises Ltd. (REL) – The Economic Times|url=http://economictimes.indiatimes.com/religare-enterprises-ltd/infocompanyhistory/companyid-20026.cms}}</ref>


Religare Finvest, a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from [[Securities and Exchange Board of India]] (SEBI). RSL registered with [[Central Depository Services Limited]] (CDSL) as a depository participant in 2003. It also became a stock broker at the [[Bombay Stock Exchange]] (BSE) in 2004. In the same year, Religare Commodities Ltd., a commodities broking company, started operations as a ‘trading cum clearing member’ at both the [[Multi Commodity Exchange]] (MCX) and the [[National Commodity and Derivatives Exchange]] (NCDEX).{{citation needed|date=September 2016}}
Religare Finvest Ltd (RFL), a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from [[Securities and Exchange Board of India]] (SEBI). RSL registered with [[Central Depository Services Limited]] (CDSL) as a depository participant in 2003. It also became a stock broker at the [[Bombay Stock Exchange]] (BSE) in 2004. In the same year, Religare Commodities Limited, a commodities broking company, started operations as a ‘trading cum clearing member’ at both the [[Multi Commodity Exchange]] (MCX) and the [[National Commodity and Derivatives Exchange]] (NCDEX).{{citation needed|date=September 2016}}


An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category - I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an [[initial public offering]] (IPO) of its stock in November, 2007, which was oversubscribed 159 times.<ref>{{cite web|title=Official NSE India report 2008|url=http://www.nseindia.com/content/us/ismr2008ch2.pdf}}</ref> The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member.<ref>{{Cite web|title=Religare Enterprises Ltd Peer Comparison, Compare Religare Enterprises Ltd with Peer Companies - The Financial Express|url=https://www.financialexpress.com/market/stock-market/religare-enterprises-ltd-stock-price/peer-comparison/|access-date=2020-12-03|website=www.financialexpress.com}}</ref>{{citation needed|date=September 2016}}
An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category – I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an [[initial public offering]] (IPO) of its stock in November, 2007, which was oversubscribed 159 times.<ref>{{cite web|title=Official NSE India report 2008|url=http://www.nseindia.com/content/us/ismr2008ch2.pdf}}</ref> The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member.<ref>{{Cite web|title=Religare Enterprises Ltd Peer Comparison, Compare Religare Enterprises Ltd with Peer Companies – The Financial Express|url=https://www.financialexpress.com/market/stock-market/religare-enterprises-ltd-stock-price/peer-comparison/|access-date=2020-12-03|website=www.financialexpress.com}}</ref>{{citation needed|date=September 2016}}


Religare has been involved in a joint-venture life assurance business with [[Aegon N.V.|AEGON]] and [[Bennett and Coleman|Bennett, Coleman & company]].<ref>{{cite news|title=Religare to exit from Aegon Religare Life Insurance|url=http://www.business-standard.com/article/pti-stories/religare-to-exit-from-aegon-religare-life-insurance-115051200698_1.html|newspaper=Business Standard India|date=12 May 2015|last1=India|first1=Press Trust of}}</ref>
In 2008, Religare started a joint-venture life assurance business with [[Aegon N.V.]] and [[Bennett and Coleman|Bennett, Coleman & Company]] called [[Aegon Life Insurance Company|Aegon Religare Life Insurance Company]]. Religare exited the joint venture in 2015 by selling its stake to Bennett, Coleman & Company.<ref>{{cite news|title=Religare to exit from Aegon Religare Life Insurance|url=http://www.business-standard.com/article/pti-stories/religare-to-exit-from-aegon-religare-life-insurance-115051200698_1.html|newspaper=Business Standard India|date=12 May 2015|agency=Press Trust of India}}</ref>


In 2011, Religare Finvest successfully issued non-convertible debentures (NCDs) worth Rs. 800 crore. In December 2011, Avigo Capital<ref>{{cite web|title=Religare Finvest Raising Rs 150Cr From Avigo Capital - VCCircle|url=http://www.vccircle.com/news/banking/2011/11/18/religare-finvest-raising-rs-150cr-avigo-capital|date=18 November 2011}}</ref> and in January 2012, Jacob Ballas<ref>{{cite news|title=Jacob Ballas to invest Rs 200 cr in Religare Finvest|url=http://www.business-standard.com/article/companies/jacob-ballas-to-invest-rs-200-cr-in-religare-finvest-112010200177_1.html|newspaper=Business Standard India|date=2 January 2012|last1=India|first1=Press Trust of}}</ref> invest in Religare Finvest Limited (RFL). In 2012 [[International Finance Corporation]] (IFC), an arm of [[World Bank Group]], invested in Religare.<ref>{{cite web|title=IFC to invest $75 m in Religare Enterprises - The Hindu BusinesLine|url=http://www.thehindubusinessline.com/markets/stock-markets/ifc-to-invest-75-m-in-religare-enterprises/article3958475.ece}}</ref> Religare Health Insurance Company Limited (RHIC) started operations in 2012.<ref>{{cite web|date=11 October 2012|title=Religare Health Insurance announces launch of its operations|url=http://articles.economictimes.indiatimes.com/2012-10-11/news/34387672_1_religare-health-insurance-anuj-gulati-bank-partners}}</ref> [[Union Bank of India]] and [[Corporation Bank]] tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm (RGAM).<ref>{{cite news|title=Religare Global buys stake in YourNest - The Hindu|url=http://www.thehindu.com/todays-paper/tp-business/religare-global-buys-stake-in-yournest/article6660002.ece|newspaper=The Hindu|date=4 December 2014}}</ref>
In 2011, Religare Finvest successfully issued non-convertible debentures (NCDs) worth ₹800 crores. In December 2011, Avigo Capital<ref>{{cite web|title=Religare Finvest Raising Rs 150Cr From Avigo Capital – VCCircle|url=http://www.vccircle.com/news/banking/2011/11/18/religare-finvest-raising-rs-150cr-avigo-capital|date=18 November 2011}}</ref> and in January 2012, Jacob Ballas<ref>{{cite news|title=Jacob Ballas to invest Rs 200 cr in Religare Finvest|url=http://www.business-standard.com/article/companies/jacob-ballas-to-invest-rs-200-cr-in-religare-finvest-112010200177_1.html|newspaper=Business Standard India|date=2 January 2012|agency=Press Trust of India}}</ref> invest in Religare Finvest Limited (RFL). In 2012 [[International Finance Corporation]] (IFC), an arm of [[World Bank Group]], invested in Religare.<ref>{{cite web|title=IFC to invest $75 m in Religare Enterprises – The Hindu BusinesLine|date=2 October 2012 |url=http://www.thehindubusinessline.com/markets/stock-markets/ifc-to-invest-75-m-in-religare-enterprises/article3958475.ece}}</ref> Religare Health Insurance Company Limited (RHIC) started operations in 2012.<ref>{{cite web|date=11 October 2012|title=Religare Health Insurance announces launch of its operations|url=http://articles.economictimes.indiatimes.com/2012-10-11/news/34387672_1_religare-health-insurance-anuj-gulati-bank-partners|archive-url=https://web.archive.org/web/20160305102148/http://articles.economictimes.indiatimes.com/2012-10-11/news/34387672_1_religare-health-insurance-anuj-gulati-bank-partners|url-status=dead|archive-date=5 March 2016}}</ref> [[Union Bank of India]] and [[Corporation Bank]] tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm (RGAM).<ref>{{cite news|title=Religare Global buys stake in YourNest – The Hindu|url=http://www.thehindu.com/todays-paper/tp-business/religare-global-buys-stake-in-yournest/article6660002.ece|newspaper=The Hindu|date=4 December 2014}}</ref>
Religare has exited its global asset management business. In February 2017, Anand Rathi Wealth Management acquired Religare's wealth management business.<ref>{{cite news|title=Anand Rathi Wealth Management acquires Religare's Wealth Management Business|url= http://economictimes.indiatimes.com/articleshow/57210621.cms|newspaper= The Economic Times|date= 17 February 2017|last1= Shukla|first1= Saloni}}</ref> In April 2017, Religare announced that it had sold its stake to the True North a consortium of PE investors.<ref>{{cite web|title=Religare sells 80% stake in health insurance arm to True North, others|url=http://www.livemint.com/Companies/ikUrvoEshkw3P1siSv5qTM/Religare-sells-80-stake-in-health-insurance-arm-to-True-Nor.html|access-date=|date=9 April 2017}}</ref>
Religare has exited its global asset management business. In February 2017, Anand Rathi Wealth Management acquired Religare's wealth management business.<ref>{{cite news|title=Anand Rathi Wealth Management acquires Religare's Wealth Management Business|url= http://economictimes.indiatimes.com/articleshow/57210621.cms|newspaper= The Economic Times|date= 17 February 2017|last1= Shukla|first1= Saloni}}</ref> In April 2017, Religare announced that it had sold its stake to the True North a consortium of PE investors.<ref>{{cite web|title=Religare sells 80% stake in health insurance arm to True North, others|url=http://www.livemint.com/Companies/ikUrvoEshkw3P1siSv5qTM/Religare-sells-80-stake-in-health-insurance-arm-to-True-Nor.html|date=9 April 2017}}</ref>


Kavi Arora was the MD & CEO of Religare from Nov 2011 to 2017. In January 2018 Reserve Bank of India (RBI) put RFL under a Corrective Action Plan (CAP) due to issues emanating from siphoning and misappropriation of funds by erstwhile promoters of REL and their associates and it was prohibited by RBI from expanding its Credit portfolio other than investments in Government Securities.
In 2020, the company reported consolidated net loss of Rs 115.24 crore in second quarters results.<ref>{{Cite news|title=Religare Enterprises Q2 results: Net loss narrows to Rs 115 cr|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/earnings/religare-enterprises-q2-net-loss-narrows-to-rs-115-cr/articleshow/79177799.cms|access-date=2020-12-03}}</ref>

The Enforcement Directorate (ED) has been investigating Religare based on a case filed by the Delhi Police in 2019. The Delhi Police had arrested erstwhile founders Shivinder Mohan Singh and Malvinder Mohan Singh, as well as, former CMD of Religare Enterprises, Sunil Godhwani. The ED took their custody and a charge sheet was filed in January 2020.

RFL defaulted on interest payment to bond holders due on February 25, 2022 due to asset liability mismatch, said to arise out of siphoning and misappropriation of funds by erstwhile promoters of its parent company

RFL and REL entered into a settlement agreement with 16 lenders in Dec 2022 (including SBI, Bank of Baroda, UBI, Canara Bank, PNB, BoI, IDBI Bank, P&SB, BoM) and a one time settlement (OTS) was completed in Mar 2023.

In Dec 2023 Delhi High Court directed the removal of the Fraud label from RFL by Lenders.

As per news reports in Jan 2024 ED carried out searches at nine places, including the corporate offices of RFL and RHC Holdings, in connection with its money laundering probe into the siphoning off more than Rs.2,000 crores from RFL. ED is, as per news reports, readying a charge sheet against erstwhile promoters (Shivinder and Malvinder) for diversion of funds from RFL.


== Subsidiaries ==
== Subsidiaries ==
* Religare Finvest Ltd (RFL)
* Religare Finvest Limited (RFL)
* Religare Housing Development Corporation Finance Ltd (RHDFCL)
* Religare Housing Development Corporation Finance Limited (RHDFCL)
* [[Care Health Insurance]] (70%)<ref>{{cite news |last1=Mascarenhas |first1=Rajesh |title=Religare plans ₹2,000-cr IPO for Care Health |url=https://economictimes.indiatimes.com/markets/ipos/fpos/religare-plans-2000-cr-ipo-for-care-health/articleshow/83617197.cms |access-date=19 February 2023 |work=The Economic Times |date=18 June 2021}}</ref>


== References ==
== References ==
Line 46: Line 60:
* [https://economictimes.indiatimes.com/religare-enterprises-ltd/infocompanyhistory/companyid-20026.cms Religare] on [[The Economic Times]]
* [https://economictimes.indiatimes.com/religare-enterprises-ltd/infocompanyhistory/companyid-20026.cms Religare] on [[The Economic Times]]


[[Category:Financial services companies of India]]
[[Category:Financial services companies based in Delhi]]
[[Category:Companies based in Delhi]]
[[Category:Companies based in New Delhi]]
[[Category:1984 establishments in India]]
[[Category:Indian companies established in 1982]]
[[Category:Brokerage firms]]
[[Category:1982 establishments in Delhi]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Latest revision as of 23:37, 21 October 2024

Religare Enterprises Limited.
Company typePublic
IndustryFinancial services
Headquarters
New Delhi
,
India
Key people
  • Rashmi Saluja (Chairperson)[1]
Services
RevenueIncrease ₹6,235 crore (US$750 million) (2024)[2]
Decrease ₹318 crore (US$38 million) (2024)[2]
Decrease ₹347 crore (US$42 million) (2024)[2]
Total assetsIncrease ₹9,577 crore (US$1.1 billion) (2024)[2]
Total equityIncrease ₹2,343 crore (US$280 million) (2024)[2]
Subsidiaries
Websitewww.religare.com

Religare Enterprises Limited (REL) is an Indian investment and financial services holding company, headquartered in New Delhi.[3] REL is listed on National Stock Exchange of India[4] and Bombay Stock Exchange.[5] It is registered with the Reserve Bank of India (RBI).[6]

History

[edit]

Founded in 1982, initially Religare was a stock brokerage firm called Religare Securities Limited (RSL) and was admitted to the National Stock Exchange (NSE) in 1994. The erstwhile promoters were Malvinder Mohan Singh and Shivinder Mohan Singh who were part of Ranbaxy Group before selling their stake in Ranbaxy to Daiichi Sankyo in 2008. In 2000, it secured membership of the Futures and Options segment of the NSE and also registered with National Securities Depository Limited (NSDL) as a depository participant.[7]

Religare Finvest Ltd (RFL), a group company, was founded in 2001 as a private non-banking financial institution. In 2002, RSL received registration as ‘Portfolio Manager’ from Securities and Exchange Board of India (SEBI). RSL registered with Central Depository Services Limited (CDSL) as a depository participant in 2003. It also became a stock broker at the Bombay Stock Exchange (BSE) in 2004. In the same year, Religare Commodities Limited, a commodities broking company, started operations as a ‘trading cum clearing member’ at both the Multi Commodity Exchange (MCX) and the National Commodity and Derivatives Exchange (NCDEX).[citation needed]

An office was established in London in 2006. In 2006, RSL received registration as Merchant Banker in Category – I from SEBI. Religare announced a joint venture with Macquarie Bank Ltd. in October 2007 to expand its wealth management business. REL went public with an initial public offering (IPO) of its stock in November, 2007, which was oversubscribed 159 times.[8] The same year, RSL received membership of derivative segment of the BSE as trading-cum-clearing member.[9][citation needed]

In 2008, Religare started a joint-venture life assurance business with Aegon N.V. and Bennett, Coleman & Company called Aegon Religare Life Insurance Company. Religare exited the joint venture in 2015 by selling its stake to Bennett, Coleman & Company.[10]

In 2011, Religare Finvest successfully issued non-convertible debentures (NCDs) worth ₹800 crores. In December 2011, Avigo Capital[11] and in January 2012, Jacob Ballas[12] invest in Religare Finvest Limited (RFL). In 2012 International Finance Corporation (IFC), an arm of World Bank Group, invested in Religare.[13] Religare Health Insurance Company Limited (RHIC) started operations in 2012.[14] Union Bank of India and Corporation Bank tie up with Religare Health Insurance. In 2013 Religare bought Macquarie's stake in the wealth management business. In the same year the name of Religare Mutual Fund was changed to Religare Invesco Mutual Fund. In 2014 Religare announced acquiring a 26% stake in YourNest Angel Fund through its Global Asset Management arm (RGAM).[15] Religare has exited its global asset management business. In February 2017, Anand Rathi Wealth Management acquired Religare's wealth management business.[16] In April 2017, Religare announced that it had sold its stake to the True North a consortium of PE investors.[17]

Kavi Arora was the MD & CEO of Religare from Nov 2011 to 2017. In January 2018 Reserve Bank of India (RBI) put RFL under a Corrective Action Plan (CAP) due to issues emanating from siphoning and misappropriation of funds by erstwhile promoters of REL and their associates and it was prohibited by RBI from expanding its Credit portfolio other than investments in Government Securities.

The Enforcement Directorate (ED) has been investigating Religare based on a case filed by the Delhi Police in 2019. The Delhi Police had arrested erstwhile founders Shivinder Mohan Singh and Malvinder Mohan Singh, as well as, former CMD of Religare Enterprises, Sunil Godhwani. The ED took their custody and a charge sheet was filed in January 2020.

RFL defaulted on interest payment to bond holders due on February 25, 2022 due to asset liability mismatch, said to arise out of siphoning and misappropriation of funds by erstwhile promoters of its parent company

RFL and REL entered into a settlement agreement with 16 lenders in Dec 2022 (including SBI, Bank of Baroda, UBI, Canara Bank, PNB, BoI, IDBI Bank, P&SB, BoM) and a one time settlement (OTS) was completed in Mar 2023.

In Dec 2023 Delhi High Court directed the removal of the Fraud label from RFL by Lenders.

As per news reports in Jan 2024 ED carried out searches at nine places, including the corporate offices of RFL and RHC Holdings, in connection with its money laundering probe into the siphoning off more than Rs.2,000 crores from RFL. ED is, as per news reports, readying a charge sheet against erstwhile promoters (Shivinder and Malvinder) for diversion of funds from RFL.

Subsidiaries

[edit]
  • Religare Finvest Limited (RFL)
  • Religare Housing Development Corporation Finance Limited (RHDFCL)
  • Care Health Insurance (70%)[18]

References

[edit]
  1. ^ "Religare Board of Directors".
  2. ^ a b c d e "Religare Enterprises Ltd Profit & Loss Statement". Moneycontrol.
  3. ^ "Religare share price live today - Why Religare share price is falling by 0.44% today? Religare share price analysis | ETMarkets". The Economic Times.
  4. ^ "Religare Enterprises Limited". Nseindia.
  5. ^ "Stock Share Price BSE - REL". BSE India.
  6. ^ "Religare Chief Under Fire: IRDAI Probes Stock Option Grant, Governance in Question". Bru Times News.
  7. ^ "Company History – Religare Enterprises Ltd. (REL) – The Economic Times".
  8. ^ "Official NSE India report 2008" (PDF).
  9. ^ "Religare Enterprises Ltd Peer Comparison, Compare Religare Enterprises Ltd with Peer Companies – The Financial Express". www.financialexpress.com. Retrieved 3 December 2020.
  10. ^ "Religare to exit from Aegon Religare Life Insurance". Business Standard India. Press Trust of India. 12 May 2015.
  11. ^ "Religare Finvest Raising Rs 150Cr From Avigo Capital – VCCircle". 18 November 2011.
  12. ^ "Jacob Ballas to invest Rs 200 cr in Religare Finvest". Business Standard India. Press Trust of India. 2 January 2012.
  13. ^ "IFC to invest $75 m in Religare Enterprises – The Hindu BusinesLine". 2 October 2012.
  14. ^ "Religare Health Insurance announces launch of its operations". 11 October 2012. Archived from the original on 5 March 2016.
  15. ^ "Religare Global buys stake in YourNest – The Hindu". The Hindu. 4 December 2014.
  16. ^ Shukla, Saloni (17 February 2017). "Anand Rathi Wealth Management acquires Religare's Wealth Management Business". The Economic Times.
  17. ^ "Religare sells 80% stake in health insurance arm to True North, others". 9 April 2017.
  18. ^ Mascarenhas, Rajesh (18 June 2021). "Religare plans ₹2,000-cr IPO for Care Health". The Economic Times. Retrieved 19 February 2023.
[edit]
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