Japan's Mitsui Sumitomo Insurance to acquire 21.87% stake in Max Financial Services in share swap deal
MFS and MSI (a part of MS&AD Insurance Group Holding of Japan) are 73:25 joint venture partners in private life insurer Max Life Insurance Company of the Analjit Singh-promoted Max Group.
The last major deal done by Axis Bank was an acquisition of digital payments company Freecharge in 2017 for Rs 385 crore
Max Group promoter Analjit Singh plans to sell stake in firm's financial services arm, realty assets to repay loans
In early February this year, Max Group had announced that Analjit would take over as the chairman of Max India and Max Life.
The use of the Max brand will be phased out over a period of two years and replaced with a suitable name.
Analjit Singh to take over as chairman of Max Life and Max India; group president Rahul Khosla to be appointed as advisor
Khosla will also demit his role as Max Healthcare chairman once regulatory approvals for the transaction with KKR-Radiant are received.
KKR-backed Radiant Life Care to acquire Max Healthcare to create combined entity valued at Rs 7,242 crore
Radiant's healthcare assets will be demerged into Max Healthcare which will then undertake a reverse merger with Max India to create merged Max Healthcare
The boards of HDFC Life, Max Life, Max Financial Services and Max India decided to amalgamate their businesses to create a Rs 25,500-crore entity under the label of HDFC Life through a 3:7 share swap under which a Max shareholder will get three HDFC Life shares for every seven in an old share deal
The Enforcement Directorate summoned Vodafone Chairman Analjit Singh on Wednesday.<br /><br />
Analjit Singh, who has been the director of Vodafone since 2002, is likely to send an authorised representative on his behalf.
The meeting assumes significance as it comes days after Gujral had said that Vodafone was advised to withhold tax, a claim contested by Vodafone.
Vodafone will have to pay over Rs 11,000 crore tax, once the amendment to change the Income Tax Act is approved by Parliament, a Finance Ministry official said today