Religare Enterprises : General updates

February 20, 2022
The National Stock Exchange of India Ltd.	BSE Limited
Corporate Communications Department	Corporate Services Department
"Exchange Plaza", 5th Floor,	Phiroze Jeejeebhoy Towers
Bandra-Kurla Complex, Bandra (East),	Dalal Street,
Mumbai - 400051	Mumbai - 400 001
Scrip Symbol: RELIGARE	Scrip Code: 532915

Subject: Update

Dear Sir(s),

We would like to update that Religare Finvest Limited (RFL), wholly owned subsidiary company of Religare Enterprises Limited (REL / Company) has filed a Writ Petition in the Hon'ble High Court of Delhi in the matter of communication dated 11 February 2022 from the RBI advising that restructuring of RFL cannot be implemented with REL continuing as its promoter since RFL has been declared as "Fraud" exposure by lenders.

The Hon'ble High Court of Delhi by an order dated 18 February 2022 passed in the said Petition has inter alia directed as follows:

"Despite advance service none appears for the respondent (i.e. Reserve Bank of India). Having perused the impugned communication, it prima-facie appears that the respondent has ignored the vital fact that the erstwhile promoters of REL are no longer in charge of the affairs of either the petitioner company or of REL. In case the impugned order is not stayed, grave and irreparable prejudice will be caused to the petitioner as the banks are likely to take precipitative steps against the petitioner on account of the impugned communication. It is, accordingly, directed that till the next date, the operation of the impugned communication dated 11 February 2022 will remain stayed."

This is for your kind information and record.

Thanking you,

Religare Enterprises Limited
CIN: L74899DL1984PLC146935
Regd. Office: 1st Floor, P-14, 45/90, P-Block, Connaught Place, New Delhi - 110001	Phone: [phone], Fax No.: [phone]
Corporate Office: Plot No. A - 3,4 & 5, Club 125, Tower B, Sector - 125, Noida - 201301, U.P.	Phone: [phone]
www.religare.com/ [e-mail]