MUMBAI: Religare Enterprises’ proposed demerger of its financial services business into Religare Finvest has hit a regulatory hurdle after RBI declined to grant its no-objection, stalling a restructuring plan that had already secured stock exchange clearances and was awaiting statutory approvals.In a filing dated Aug 7, Religare said RBI, in a communication dated Aug 6, informed the company that its application seeking no-objection or prior approval for the scheme “has been examined and that the request has not been acceded to”. A similar communication dated Aug 7, was received by Religare Finvest. The scheme, approved by the boards on Feb 14, 2026, involved the transfer of the “demerged undertaking” of Religare to Religare Finvest under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
