MUTHOOT FINANCE LTD. - Outcome of Board Meeting

Muthoot Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 05, 2015, inter alia, has given in-principle approval for investment up to Rs. 50 crores in M/s. Muthoot Homefin (India) Limited (MHIL). subject to regulatory approvals, it any.<BR><BR>MHIL is a Company having paid up capital of Rs. 10.50 Crores and promoted by the same management as of Muthoot Finance Limited. MHIL had received the license for operation from NHB on May 19, 2014. MHIL is engaged in Business of Housing Finance. By virtue of the proposed investment. MHIL will be subsidiary of Muthoot Finance Limited.