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NCLT approves merger of HDFC with HDFC Bank
On Friday, the National Company Law Tribunal (NCLT) granted approval for the merger of Housing Development Finance Corporation (HDFC), HDFC Investments, and HDFC Holdings with HDFC Bank. This merger had previously been approved by the board of both companies in April 2022, and subsequently received the necessary approvals from the Reserve Bank of India (RBI), Securities and Exchange Board of…
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Mahendra N. Shah is appointed managing director by IDFC.
Mahendra N. Shah is appointed managing director by IDFC.
Mahendra N. Shah has been appointed managing director (MD) of IDFC Limited, beginning October 1, 2022, for a period of one year until September 30, 2023, the IDFC has said. It is subject to the approval of the shareholders of the Company and other applicable statutory/ regulatory approvals, IDFC Limited said. He will replace Sunil Kakar, Managing Director, and CEO of the Company whose tenure…
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The Reserve Bank of India (RBI) has cancelled licenses of Non-Banking Financial Companies (NBFCs) for failing to meet regulatory norms. According to the amendment in the RBI Act of 1997, the central bank had mandated the minimum capital requirement for NBFCs at ₹ 25 lakh. The requirement was increased to ₹ 2 crore for new …
