Bringing you the Best Analytical Legal News
The acquisition brings together two established investment management platforms with complementary synergies. As part of the transaction, Mr. Samit Vartak will be appointed as Chief Investment Officer — Equities at ASK IM for the combined business.
BNF is a technology-led non-banking financial company focused on providing secured credit to MSMEs across underserved and under-penetrated markets in India.
CAM’s role included advising and assisting with the structuring and compliances with applicable legal and regulatory requirements as well as drafting and finalising of documents, disclosures and filings, in relation to the Preferential Issue.
Valued at approximately ₹3,030 crore (US$320 million), the sale was undertaken to facilitate compliance with the minimum public shareholding requirements prescribed under the Securities Contracts (Regulation) Rules, 1957 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
SEBI passed an order on August 24, 2026, finding that the allegations against Axis Bank Limited and its wholly owned subsidiaries were not established. Accordingly, the proceedings were disposed of without any adverse findings or directions, or imposition of any penalty.
The transaction involved a unique pre-closing restructuring exercise, wherein Carmel Point India Investments Limited, a wholly owned special purpose vehicle of CPIL, underwent voluntary liquidation, followed by an in specie distribution of its assets, including its shareholding in IndiaFirst Life Insurance Company Limited, to its parent entity as a condition precedent to the proposed acquisition.
The Business Transfer Agreement was signed on June 30, 2026. Closing of the sale is subject to completion of the conditions set out under the Business Transfer Agreement.
IFSCA’s 2025 framework sets out registration, governance, and currency norms for TechFin and Ancillary Service Provider, ensuring compliance, oversight, and transparent financial operations.
by Prachi Dutta*
International co-operation will be in conformity with Universal Postal Union Convention Manual and Regulations.
Ms. Lakshmi Rajagopalan has rejoined Cyril Amarchand Mangaldas as a Partner in its Financial Services and Technology Practice
Allahabad High Court said that the term ‘condition and the specification of the cold storage’ together with the definition clauses constitute the cold storage services and, therefore, cold storage services have been properly structured under the U.P. Enactment read with modified subordinate legislation of Uttar Pradesh.
About Scholasticus Scholasticus (ISSN 0975-1157) is one of the earliest publications by National Law University, Jodhpur established with the objective of promoting
DEAL DETAILS Aditya Birla Capital Limited and Infocyber India Private Limited | Sale of 100% of Aditya Birla Insurance Brokers Limited to
DEAL DETAILS Kedaara Capital Advisors LLP | Minority investment in Avanse Financial Services NO HEADINGS DETAILS 1. Sector Financial Services; NBFCs
DEAL DETAILS Poonawalla Fincorp Limited (formerly Magma Fincorp Limited) | Sale of entire stake held in Poonawalla Housing Finance Limited