DEWAN HOUSING FINANCE CORPORATION LTD. - Outcome of Board Meeting
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| 07 Aug 2015 | |
| With reference to the earlier letter dated October 28, 2015, Dewan Housing Finance Corporation Ltd has informed BSE that the Board of Directors of the Company at their meeting held on August 07, 2015, inter alia, has approved/granted no-objection to the following matters: <BR><BR>a. Pursuant to the necessary approvals received from Securities and Exchange Board of India and Competition Commission of India, the proposed joint venture is scheduled to be concluded on or around August 11, 2015, by way of acquisition of 50% (Fifty Percent) of the equity share capital of (i) Pramerica Asset Managers Private Limited ("PAMC"), the asset management Company of Pramerica Mutual Fund ("PMF"); and (ii) Pramerica Trustees Private Limited, the trustee for the PMF, from PGLH of Delaware Inc.. <BR><BR>b. No objection to PAMC to acquire the Deutsche Banks Asset Management business, since the combined business will enable PAMC to expand their investment management expertise, distribution platform and products portfolio significantly in India, which is subject to obtaining approval from the Securities and Exchange Board of India and the Competition Commission of India. <BR><BR>2. The Board, based on the recommendation of the Nomination & Remuneration Committee, approved the appointment of Dr. Rajiv Kumar, as an Additional Director (Independent Director) of the Company with effect from August 07, 2015. | |
| View all announcements for DEWAN HOUSING FINANCE CORPORATION LTD. | Source: BSE India |
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