L&T Finance Holdings announced with reference to the merger of L&T Infrastructure Finance Company (LTIFC) and L&T Housing Finance with L&T Finance, all wholly owned subsidiaries of the Company and consequent impact on L&T Infra Debt Fund (LTIDF), one of the subsidiaries of the Company, highlighting that LTIDF might be required to undergo, consequent to the merger of its sponsor i.e.
LTIFC, change in the general character or nature of business / activities / shareholding structure which may include requirement of obtaining various approvals and making appropriate applications to the regulator, the RBI vide its letter dated 17 May 2021, has advised LTIDF to take steps to convert LTIDF into an NBFC - Investment and Credit Company (NBFC - ICC) from an IDF-NBFC. that the Reserve Bank of India vide its letter dated 17 May 2021, has advised L&T Infra Debt Fund
Market may open positive on strong Asian markets
April 13, 2021
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‘The second wave of Covid 19 could jeopardise India’s economic revival and the overall impact will have to be ascertained’
After a Black Monday, markets are expected to be cautious even as the SGX Nifty point to a gap-up opening on Tuesday. Weak economy data and rising number of Covid-19 cases will keep the market in a range, said analysts.
The Index for Industrial production (IIP) contracted 3.6 per cent in February while consumer price index or retail inflation rose to 5.52 per cent in March.
The SGX Nifty is currently ruling at 14,403 (8 am IST) against Nifty Futures’ close of 14,343.25, signalling a 60-point gap-up opening. While the US markets closed weak overnight, most Asian markets are up almost 1 per cent in early trade on Tuesday.
Board of L&T Finance Holdings approves scheme of amalgamation business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.