Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Shriram Group gets CCI nod for financial services business merger.

Date: 03-08-2022
Subject: Shriram Group gets CCI nod for financial services business merger
The Shriram Group said on Tuesday it has received Competition Commission of India approval for the merger of its financial services entities - Shriram Transport Finance Company and Shriram City Union Finance Company.

Shriram Transport MD Umesh Revankar said in a statement the CCI nod comes after approvals from SEBI, RBI, the stock exchanges, creditors, and the insurance regulator IRDA.

"We now only await the final go-ahead from the National Company Law Tribunal (NCLT). In preparation to commence operations in the merged entity, we have launched the pilot business as a combined entity across 550+ branches in all five geographical units. This endeavour will be scaled up progressively until the merger day," he said.

The Shriram Group expects business stability to be maintained, even as the teams and systems integration is progressing. The merged entity Shriram Finance NSE -1.59 % will be India’s largest Retail NBFC with Assets Under Management of Rs 1.65 lakh crore as of June 2022.

For the combined entity, Revankar would be the Vice-Chairman while Shriram City's MD & CEO YS Chakravarti would be the MD and CEO, according to an earlier statement.

The combined financial service entity, Shriram Finance Ltd, would benefit from the multiplier effect of the unification of numerous market channels, and leverage data analytics to serve customers better.

Source Name :-Economic Times 

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 22-11-2023
Notification No. 13/2023 -Customs (ADD)
Seeks to further amend notification No. 47/2021-Customs (ADD), dated 26th August, 2021, imposing Anti-dumping Duty on imports of "Natural mica-based pearl industrial pigments excluding cosmetic grade" from China PR, to modify the existing duty table .

Date: 21-11-2023
NOTIFICATION No. 12/2023-Customs (ADD)
Seeks to continue levy of anti-dumping duty on "Synthetic Grade Zeolite 4A (Detergent Grade) from China PR for 5 years pursuant to First Sunset Review Final Findings issued by DGTR."

Date: 17-11-2023
NOTIFICATION No. 11/2023-Customs (ADD)
seeks to impose anti-dumping duty on toughened glass for home appliances imported from China PR for a period of 5 years.

Date: 17-11-2023
NOTIFICATION No. 54/2023- Central Tax
Seeks to amend Notification No. 27/2022 dated 26.12.2022 to notify biometric-based Aadhaar authentication for GST registration in the State of Andhra Pradesh.

Date: 16-11-2023
Notification No. 84/2023 - Customs (N.T.)
Exchange Rate Notification No. 84/2023-Cus (NT) dated 16.11.2023-reg

Date: 15-11-2023
Notification No. 83/2023 - Customs (N.T.)
Exchange Rate Notification No. 83/2023-Cus (NT) dated 15.11.2023-reg

Date: 15-11-2023
Notification No. 82/2023-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 02-11-2023
Notification No. 16/2023- Union Territory Tax (Rate)
Seeks to amend Notification No 17/2017- Union territory Tax (Rate) dated 28.06.2017.

Date: 02-11-2023
Seeks to notify a special procedure for condonation of delay in filing of appeals against demand orders passed until 31st March, 2023.

Date: 02-11-2023
Notification No. 81/2023 - Customs (N.T.)
Exchange Rate Notification No. 81/2023-Cus (NT) dated 02.11.2023-reg

Exim Guru Copyright © 1999-2023 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001