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TVS Holdings has received approval of Reserve Bank of India (RBI) for the proposed direct change in control of Home Credit India Finance and consequent change in Board of Directors:
- change in shareholding/control by way of transfer of 80.74%, 10.79% and 8.47% equity shares of Home Credit to TVS Holdings, PI Opportunities Fund II and STPL Trading and Services respectively; and
- appointment of K Gopala Desikan as Non-Executive Director and B Sriram and Dr. Deepali Pant Joshi as Independent Directors of Home Credit.
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