Reliance Capital of Hinduja Group, IRDAI approved!!!
Reliance capital of Hinduja Group, IRDAI approved!!!
IIHL, owned by Hinduja Group, has got permission to acquire reliance Capital. Insurance sector regulator IRDAI gave this approval on Friday. IIHL said that they have been given this information on the auspicious occasion of Akshaya Tritiya. Now this acquisition will await some more regulatory approvals.IIHL thanks stakeholders including IRDAIAccording to IIHL spokesperson, reliance capital Insurance Company has received approval from IRDAI to buy IndusInd international Holdings Limited (IIHL) and its indian subsidiaries. IIHL is a mauritius based company. Now, to speed up the legal process of acquisition, efforts will be made to complete other work as soon as possible. The company will try to settle this transaction before the date given by the National Company Law Tribunal (NCLT) of 27th May. We thank all the stakeholders including IRDA for this decision.
IIHL had restructured the consortiumEarlier, IIHL had restructured the consortium formed to buy reliance Capital. In this, four new indian companies Cyqure India, Ecopolis Properties, Cyqurex Technologies and IIHL BFSI were included. Due to this, the rule of maximum 74 percent share of FDI in the insurance sector was followed. Now ashok Hinduja, Harsha Hinduja and Shom Hinduja have major stake in the consortium.
IRDAI had raised questions on IIHL's stake.IRDA had raised questions on IIHL's stake in reliance Capital. He holds majority stake in reliance Capital. Due to this, it has 51 percent stake in reliance Nippon Life Insurance Company (RNLIC). Japan's Nippon Life has 49 percent stake in RNLIC. reliance capital also has 100 percent stake in General Insurance.
IIHL, owned by Hinduja Group, has got permission to acquire reliance Capital. Insurance sector regulator IRDAI gave this approval on Friday. IIHL said that they have been given this information on the auspicious occasion of Akshaya Tritiya. Now this acquisition will await some more regulatory approvals.IIHL thanks stakeholders including IRDAIAccording to IIHL spokesperson, reliance capital Insurance Company has received approval from IRDAI to buy IndusInd international Holdings Limited (IIHL) and its indian subsidiaries. IIHL is a mauritius based company. Now, to speed up the legal process of acquisition, efforts will be made to complete other work as soon as possible. The company will try to settle this transaction before the date given by the National Company Law Tribunal (NCLT) of 27th May. We thank all the stakeholders including IRDA for this decision.
IIHL had restructured the consortiumEarlier, IIHL had restructured the consortium formed to buy reliance Capital. In this, four new indian companies Cyqure India, Ecopolis Properties, Cyqurex Technologies and IIHL BFSI were included. Due to this, the rule of maximum 74 percent share of FDI in the insurance sector was followed. Now ashok Hinduja, Harsha Hinduja and Shom Hinduja have major stake in the consortium.
IRDAI had raised questions on IIHL's stake.IRDA had raised questions on IIHL's stake in reliance Capital. He holds majority stake in reliance Capital. Due to this, it has 51 percent stake in reliance Nippon Life Insurance Company (RNLIC). Japan's Nippon Life has 49 percent stake in RNLIC. reliance capital also has 100 percent stake in General Insurance.