Religare Enterprises on Wednesday said the Reserve Bank has withdrawn the conditions imposed under Corrective Action Plan (CAP) on Religare Finvest Ltd (RFL) with immediate effect.
Reserve Bank of India (RBI) had imposed CAP on RFL, a subsidiary of Religare Enterprises, in January 2018 due to the irregularities observed during the inspection for its position as on March 31, 2017.
“RFL is in receipt of a letter dated July 23, 2025, from RBI wherein RBI has withdrawn the conditions imposed under CAP on RFL with immediate effect,” Religare Enterprises said in a regulatory filing.
It is advised that the RBI has noted the company’s compliance towards adherence to the CAP conditions, Religare Enterprises said, quoting a letter from the central bank.
Further, there has also been a change in management and directors of the company, it said.
Earlier this year, the Burman family acquired a controlling stake in Religare Enterprises Ltd (REL) after the completion of the open offer, and REL was designated as its promoter.
Its shareholding post the acquisition deal stands at 83,201,819 equity shares, representing 25.16 per cent in the company.
The acquisition was made through Burman family-owned entities M B Finmart Private Limited (MFPL), Puran Associates Private Limited (PAPL), VIC Enterprises Private Limited (VIC), and Milky Investment & Trading Company (MITC).
