ALSO READTribunal approves demerger of home finance from Reliance Capital RCap gets exchange approval for Reliance Home Finance demerger RCap shareholders to decide on home finance demerger in July Rel Cap gets shareholders' nod for demerger of mortgage arm NSE, BSE gives 'No Objection' to listing of Reliance Home Finance
The transfer has already been approved by 99.59 per cent votes in favour of the Scheme of Arrangement at the Tribunal- convened general shareholders meeting held on July 24, 2017.
"The Company will be adequately capitalised to grow the lending book multi-fold in the next 18 months," the statement said.
The transfer will be effective from April 1, 2017, and will now be filed for requisite regulatory approvals.
The demerger will unlock substantial value for all stakeholders.
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