New Delhi, March 22 (SocialNews.XYZ) The Competition Commission of India (CCI) has approved the proposed combination involving LIC Mutual Fund Asset Management Ltd's (LIC AMC) acquisition of the management rights over the schemes of IDBI MF from IDBI Asset Management Ltd (IDBI AMC).
The proposed combination entails LIC AMC's acquisition of the rights to manage and administer the schemes of IDBI MF from IDBI AMC, and LIC Mutual Fund Trustee Private Ltd's (LIC TC) acquisition of the rights of trusteeship of the schemes of IDBI MF from IDBI MF Trustee Company Ltd (IDBI TC).
Consequently, the schemes of IDBI MF will form part of LIC Mutual Fund with LIC AMC acting as the asset management company for the schemes of IDBI MF and LIC TC acting as the trustee company of the schemes of IDBI MF, and IDBI AMC will also acquire certain non-controlling shareholding in LIC AMC.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
