Indiabulls Housing Finance Ltd - 535789 - Announcement under Regulation 30 (LODR)-Scheme of Arrangement
The Board of Directors of the Company ('Board'), at its meeting held today (i.e. 5th April, 2019) after considering the report of the Audit committee of Directors of Indiabulls Housing Finance Limited, has considered and approved a scheme of amalgamation between Indiabulls Housing Finance Limited ( 'the Company / Transferee Company') and Lakshmi Vilas Bank Limited ('LVB / Transferor Company') under Sections 230 to 232 of the Companies Act, 2013 ('Scheme') subject to all applicable regulatory approvals including from RBI. The Board has constituted a Reorganization Committee headed by Shri S.S. Mundra, Independent Director on the board of the Company and Ex-Deputy Governor, RBI, to take all necessary decisions including any modification and allied matters in relation the Scheme, and pursuant to any advice by the regulators, while granting the desired approvals in this regard. For complete details, please refer attachment.05-04-2019