38.6c New Delhi, India, Monday, May 20, 2024
Business

IndusInd Bank Acquires IL&FS subsidiary

By LawStreet News Network      03 July, 2018 12:00 AM      0 Comments
IndusInd Bank Acquires IL&FS subsidiary

IndusInd Bank Limited (IBL) today has signed a definitive share purchase agreement with Infrastructure Leasing and Financial Services Limited, (IL&FS) and other minority shareholders to acquire 100% of IL&FS Securities Services Limited, (ISSL); IL&FS’s subsidiary specializing in the capital markets business.

The Reserve Bank of India has granted approval for the proposed transaction.

S&R Associates acted for IndusInd Bank and the team was led by Partners Rajat Sethi and Sudip Mahapatra along with Jagriti Mohata, Dhruv Nath, and Akanksha Sharma.

Cyril Amarchand Mangaldas advisory of Infrastructure Leasing and Financial Services and the team was led by Managing Partner Cyril Shroff along with Partners Ramgovind Kuruppath and Manisha Kumar.

ISSL was incorporated in July 2006 as the capital markets mediator for professional clearing and custodial services.

This acquisition will help IndusInd bank to raise the present capital market business in the bank and bring new specialized products inside the market.



Share this article:

User Avatar
About:


Leave a feedback about this
TRENDING NEWS

supreme-court-refuses-to-entertain-plea-for-stay-on-new-criminal-laws
Trending Judiciary
Supreme Court refuses to entertain plea for stay on new criminal laws

SC refuses plea to stay new criminal laws. Court deems the plea casual, noting laws aren't yet implemented. Petitioner withdraws. Laws effective from July 1, 2024.

20 May, 2024 12:58 PM
scba-election-result-2024-know-the-newly-elected-members
Trending Know The Law
SCBA Election Result 2024, Know the newly elected members

SCBA Election Result 2024: Senior Advocate Kapil Sibal elected President. Know the newly elected members and key office bearers leading the Supreme Court Bar Association.

20 May, 2024 03:03 PM

TOP STORIES

sc-issues-notice-to-ed-on-hemant-sorens-plea-against-arrest-in-land-scam
Trending Judiciary
SC Issues Notice to ED on Hemant Soren's Plea Against Arrest in Land Scam

Supreme Court issues notice to ED on Hemant Soren's plea against arrest in a land scam case, sets hearing for May 17 after senior advocate Kapil Sibal's request for an earlier date.

14 May, 2024 11:24 AM
3800-metric-tonnes-of-solid-wastes-going-untreated-everyday-in-delhi-sc-records-concern
Trending Environment
3,800 metric tonnes of solid wastes going untreated everyday in Delhi SC records concern

The Supreme Court expressed concern as 3,800 metric tonnes of solid waste in Delhi go untreated daily. The issue must be addressed promptly beyond political lines.

14 May, 2024 11:30 AM
plea-filed-in-sc-for-review-of-april-26-evm-vvpat-verdict
Trending Judiciary
Plea filed in SC for review of April 26 EVM VVPAT verdict

A plea has been filed in the Supreme Court to review its April 26 verdict on EVM VVPAT verification, challenging the decision that dismissed a demand for 100% vote cross-verification.

14 May, 2024 12:13 PM
ai-cant-detect-consent-microsoft-and-google-tell-delhi-high-court
Trending Judiciary
AI can’t detect consent Microsoft and Google tell Delhi High Court

Microsoft and Google tell Delhi HC that AI can't detect consent for NCII takedowns, challenging a 24-hour removal directive under IT Act's safe harbour protections.

14 May, 2024 01:33 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email