lnduslnd Bank-Bharat Financial Inclusion merger to be effective from July 4
Updated : June 20, 2019 06:32 AM IST
The National Company Law Tribunal on June 10, 2019 approved the Scheme of Arrangement among BFIL, lnduslnd Bank and Induslnd Financial Inclusion and their respective shareholders and creditors.
IndusInd Bank in October last year decided to acquire the country's leading micro-finance player BFIL, which was previously known as SKS Microfinance.
The boards fixed Thursday, July 4, 2019 as the effective date of the scheme, when the NCLT order will be filed by the bank, BFIL and IFIL with the jurisdictional Registrar of Companies.
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