Mon, Oct 28, 2024
Axis Bank stated that the show-cause notice is being reviewed and that they will file responses with SEBI, citing requisite regulatory approvals for the transactions. In August, the Delhi High Court directed SEBI, RBI, and IRDAI to investigate the matter. Axis Bank acquired additional Max Life Insurance equity shares worth Rs 336 crore, increasing their stake to almost 20% from 19.02% after receiving insurance regulatory approval.
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Axis Bank, and its subsidiaries, Axis Securities Limited and Axis Capital Limited, have received an SCN through email from the Sebi, it said.
Mon, Aug 12, 2024
The Delhi High Court was hearing a plea that sought to probe alleged fraudulent practices by Axis Bank in the sale and purchase of shares in Max Life Insurance.
Wed, Jun 19, 2024
The acquisitions, divestments and merger Committee of the board of directors of the bank at its meeting held on June 19, 2024, has approved a proposal for acquisition of additional equity shares of Max Life by the bank for an amount of up to Rs 336 crore, Axis Bank said in a regulatory filing.
Fri, Apr 19, 2024
As of 10:40 a.m., shares of GIC were down over 2 per cent, HDFC Life Insurance, Max Financial Services which holds an 87 per cent majority stake in Max Life Insurance, ICICI Prudential Life Insurance Company shares were down over 1 per cent, and SBI Life was down nearly one per cent.
Mon, Mar 18, 2024
The government increased the permissible FDI limit from 26 per cent in 2014 to 49 per cent in 2015 and then to 74 per cent in 2021, he told ANI in an interview.
Wed, Feb 07, 2024
"We are pleased to inform that IRDAI, through issuing a letter dated February 6, 2024 to Max Life, has approved the capital infusion by Axis Bank into Max Life, subject to the approval of CCI. it said further," said Max Financial Services in a statement.
Sun, Aug 13, 2023
Both term insurance and life insurance provide financial protection, but they differ significantly in their structure and benefits. One has lower premium, but has no cash value accumulation. And the other is a comprehensive and long-term solution that offers returns, but is significantly more expensive to buy. So, which one should you opt for? We help you decide in this video.
Thu, Aug 10, 2023
Axis Bank on Wednesday said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees ($194.6 million) through a preferential allotment of shares.
Axis Bank along with its entities acquired a 12.99 per cent stake in Max Life in 2021, and through this new investment, they will own 19.02 per cent in the insurer.
Mon, Nov 28, 2022
The transaction entails the purchase of 9.91 crore shares of Max Life at Rs 85 per share by MFSL, the parent company of Max Life.
Fri, Oct 14, 2022
IRDAI imposed penalty on Max life of Rs 1 crore due to rules violation in the Axis Bank-Max Life Insurance Deal. Watch details in this video.
Fri, Sep 16, 2022
Max Life Insurance Company has declared a rate revision of up to 7.25% to its guaranteed savings plan -- Max Life Smart Fixed-return Digital Plan. The plan targets digitally-savvy millennials who prefer quick and hassle-free onboarding.
Fri, Jun 09, 2017
This segment of Share Bazaar brings to you the updates about Wipro calling Donald Trump and his policies dangerous, selling of promoters' stakes in Infosys and rejection of merger of HDFC Life and Max Life by IRDA Watch video to get complete information.
Thu, Dec 29, 2016
From e-commerce space to the energy sector, India Inc 2016 saw a lot of mergers and acquisitions as companies changed gears to consolidate their businesses. Top five deals of the year are as follows: 1. Myntra & Jabong
Sat, Nov 12, 2016
The insurance regulatory body expressed its reservations on the merger of Max India and HDFC Life.
Tue, Aug 09, 2016
Zee Business brings you the most important stories of the day that will help you shape your market strategies and keep you informed with the latest developments. Top five stories of this morning: 1. Post mixed cues from US, Asian markets open strong
HDFC and Max Life insurance have finally joined hands on Monday successive to their amalgamation talks earlier this year.
Fri, Jun 17, 2016
HDFC Standard Life has put on hold its IPO plan after announcing takeover of Max Financial Services, a listed company, and Max Life Insurance. HDFC Standard Life today proposed to merge Max Life and Max Financial with itself.
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