Bharat Financial Inclusion Ltd (BFIL) has received no-objection approval, from stock exchanges for its merger with IndusInd Bank.

The company informed that, it has received no-objection from the NSE on June 1 and from BSE on June 4, for its proposed merger with IndusInd Bank following the feedback from Sebi. The no-objection is based on draft scheme and other documents submitted by the company.

In a regulatory filing the company stated, “This is one of the important approvals which would enable the company to file the draft scheme of amalgamation, as approved by the boards of directors of both the entities on October 14 2017, with the National Company Law Tribunal (NCLT), Mumbai.”

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