The notification reveals violations of a number of the regulatory framework’s regulations pertaining to the insurance watchdog.
On the BSE (Bombay Stock Exchange), shares of Religare Enterprises Ltd. closed at ₹301.15, down ₹2.20, or 0.73%. On Monday, December 16, the diverse financial services group Religare Enterprises Ltd announced that the Insurance Regulatory and Development Authority of India (IRDAI) has sent a letter of advice and a show-cause notice to its major subsidiary, Care Health Insurance Ltd (CHIL).