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SES opposes DHFL insurance hive-off plan

Cites incomplete disclosures; firm says deal beneficial to shareholders

N Sundaresha Subramanian  |  New Delhi 

Governance advisory Stakeholders’ Empowerment Services (SES) has advised shareholders of Dewan Housing Finance (DHFL) to vote against its management’s seeking approval for a related party transaction. It says the disclosures are not enough. The company says the deal has all the necessary approvals. In a postal ballot that closes on Friday, DHFL has moved a resolution that will enable it to transfer its 50 per cent stake in joint venture DLF Pramerica Life Insurance to a wholly owned subsidiary called DHFL Investments. DHFL Investments will use funds received from ...

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First Published: Fri, March 17 2017. 01:18 IST
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