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Max Financial Services gets Irdai nod to acquire residual stake in Max Life

Max Financial Services, the promoter of insurer Max Life Insurance, has received the insurance regulator’s (Irdai) approval to purchase the remaining stake of 5.17 per cent in the life insurance company held by Mitsui Sumitomo Company Limited (MSI). This transaction is expected to be completed in the next fortnight, the company said in a statement on Monday.

DHFL 34,615 cr loan fraud case: Money laundered via 87 shell firms

The Central Bureau of Investigation (CBI) in its charge sheet lodged in the Rs 34,615 crore DHFL loan fraud case has said that the accused created 87 shell companies and 2,60,000 fake borrowers to launder money. The charge sheet was filed in the second week of October. The federal probe agency has also said in its charge sheet that the accused set up a virtual branch to launder money. The CBI had on October 15 filed the charge sheet against 75 accused, including private companies before the Rouse Avenue court in Delhi.

Motilal Oswal invests Rs 450 cr in Shapoorji Pallonji Real Estate

Motilal Oswal Alternates (MOA), the alternative investment arm of the Motilal Oswal Group, has made its first investment of Rs 450 crore in Shapoorji Pallonji Real Estate, against two of developer group's projects. One project is a partially completed, leased and operational commercial project in Manesar. The other is a residential township launched in 2021. The investment, which has been made through structured debt instruments, will be used for working capital, repayment of debt and achievement of financial closure, said the company.

NDTV promoter firm RRPR Holding transfers 99.5% shares to Adani's VCPL

News broadcaster New Delhi Television Ltd’s (NDTV’s) promoter firm RRPR Holding said on Monday that it had transferred shares constituting 99.5 per cent of its equity capital to Adani group-owned Vishvapradhan Commercial (VCPL). The transaction was done on Monday, RRPR Holding said in a disclosure to the stock exchanges, in consonance with a conversion notice, dated August 23, 2022, issued by VCPL. This follows the expiry of the two-year restraint imposed by the Securities & Exchange Board of India (Sebi) on November 26, it said.

Kotak Mahindra Bank arm to raise up to $1 billion for data centres

A Kotak Mahindra Bank arm plans to raise up to Rs 1 billion to invest in its data centre business. Kotak Alternate Assets, a division of Kotak Investment Advisors (KIAL), on Friday announced the appointment of Subhamkar Das as the chief operating officer for the Kotak Data Centre Funds platform, according to an official statement.

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