MESSAGES

In March, in a letter to the administrator, the IRDAI had expressed reservations regarding IIHLs takeover of Reliance Capital, particularly about IIHLs diverse shareholder structure, under which no single entity holds more than a 10% stake. The IRDAI requested in-depth information on IIHLs shareholders, including their identities, countries of incorporation, citizenship, equity percentages and details of major shareholder groups.IIHL had responded to the IRDAIs queries and the IRDAI is expected to give its nod within the required time frame," said one of the persons cited earlier, who did not wish to be identified.