RBI Declines Prior Approval for Religare Enterprises’ Scheme of Arrangement
Religare Enterprises Limited (REL) has confirmed that the Reserve Bank of India (RBI) has not granted its no-objection or prior approval regarding the proposed Scheme of Arrangement, which involves the transfer of a demerged undertaking from REL to Religare Finvest Limited (RFL).
The decision was conveyed via a letter dated August 6, 2026. RFL also received a similar communication on August 7, 2026, confirming that the RBI had examined the application and declined the request concerning the Scheme.
The Scheme of Arrangement refers to the transfer of a demerged undertaking, governed by Sections 230 to 232 read with Section 52, Section 66 and other applicable provisions of the Companies Act, 2013. This proposal is currently under review as part of ongoing developments involving both REL and RFL.
Prior to the outcome from the RBI, Religare Enterprises had provided updates regarding the progress of the Scheme. Earlier, the company intimated that the Board of Directors had approved the Scheme. Subsequently, on July 7, 2026, the company reported receiving observation letters from both the National Stock Exchange of India Limited and BSE Limited, which contained 'no objection' and 'no adverse observations,' respectively, relating to the transfer.
In response to the regulatory setback, REL and RFL stated they will engage with the Regulator and are prepared to provide any further clarifications that may be required in this regard.
RELIGARE Stock Price Movement
As of 11:51 AM, Religare Enterprises Limited shares are slipping by 0.78% in live trading, currently priced at ₹254.55 after shedding ₹2.00 per share during the session. The stock has thus far traded near the day's lower range, maintaining a floor above the intraday low of ₹254.05.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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