According to a vote count at the company’s National Company Law Tribunal-convened meeting on 4 July, 97% of the equity shareholders and 99% of the secured and unsecured creditors voted in favour of the deal.
According to the company, the anticipated merger will transform STFC from a pure-play commercial vehicle lending business to a diversified lender with products ranging from two-wheelers to MSME, gold finance, and commercial vehicle lending.
According to the company, the merger of STFC and SCUF will result in Shriram Finance, India’s largest retail non-banking financial company.
The company is now looking forward to the approval from SCUF shareholders and creditors, and NCLT, the Competition Commission of India, and the Insurance Regulatory and Development Authority.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.