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Corporate News
16-Nov-19
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Board of IIFL Wealth Management approves transfer of businesses
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At meeting held on 15 November 2019
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The Board of IIFL Wealth Management at its meeting held on 15 November 2019 transacted the following -
Approved the transfer of its distribution business of the company on slump sale basis to IIFL Wealth Finance, a wholly owned subsidiary of the company.
Approved the transfer of portfolio management services business of the Company on slump sale basis to IIFL Alternate Asset Advisors, a wholly owned subsidiary of the company.
Approved the alteration of the object clause of the Company to include the business of merchant banking, which is intended to be carried out by the Company, subject to approval of the shareholders of the Company, by
way of a special resolution.
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