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8:02 PM
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Currently, Axis Bank and its two subsidiaries - Axis Capital Ltd and Axis Securities Ltd - collectively own 12.99 per cent of Max Life Insurance post approval of the deal in April last year. Under the deal, the Axis entities also have the right to acquire an additional stake of up to seven per cent in Max Life, in one or more tranches, subject to regulatory approvals.
7:10 PM
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Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 6-9 months, the insurance company's CEO Prashant Tripathy said.
6:02 PM
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IDBI Trusteeship Services Limited acting in its capacity as a debenture trustee on behalf of Credit Suisse, had invoked the pledge of Reliance Capital's 100 per cent shareholding in Reliance General in November 2019 and transferred the shares to its account.
4:10 PM
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"Our overall loss is around Rs 500 crore, taking into account the amount we have spent on land and construction cost, the charges paid to authorities for various approvals, interest paid to banks over the years and the 12 per cent interest paid back to buyers of these two towers, among other costs," said, R K Arora, Supertech Chairman
12:09 PM
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