On 15 June 2016
Equitas Holdings announced that the petitions filed by the subsidiaries - Equitas Micro Finance (EMFL), Equitas Housing Finance (EHFL) and Equitas Finance (EFL) before the Honourable High Court of Judicature (HC) at Madras seeking its approval for the Scheme of Amalgamation of EMFL and EHFL with EFL, to comply with the terms of in-principle approval granted by RBI for setting up a Small Finance Bank (SFB) have been approved by the HC vide Order dated 06 June 2016 (Certified copy of the Order received on 15 June 2016).In terms of the said Order, the merger will take effect from the Effective date as defined in the Scheme, i.e., the working day immediately preceding the date of commencement of business of SFB.
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