The Reserve Bank of India has removed the restrictions imposed under Corrective Action Plan (CAP) on Religare Finvest (RFL) with immediate effect, its parent firm Religare Enterprises said in a statement on July 23.
The central bank had imposed the conditions on RFL in January 2018 over 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"RFL is in receipt of a letter dated July 23, 2025, from RBI wherein RBI has withdrawn the conditions imposed under CAP on RFL with immediate effect," Religare Enterprises said in a stock exchange filing.
The central bank's letter said that it has noted the firm's compliance towards adherence to the CAP conditions, the company statement said. 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 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).
With PTI inputs
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