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| Exchange Disseminated Time 11/03/2016 18:42:53 | | IIFL Holdings Ltd has informed BSE that further to IRDA approval and the approval of the Audit Committee, the Committee of the Board of Directors at its meeting held on March 11, 2016, approved the acquisition of balance 50,000 equity shares constituting 10% of the equity share capital of the Insurance Broking Subsidiary i.e. India Infoline Insurance Brokers Limited from Orpheus Trading Private Limited at a fair value as certified by an independent Chartered Accountant. Pursuant to the aforesaid IIIBL becomes a 100% non material subsidiary of the Company. |
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