The Appointed Date for the Scheme is 01 April 2020. The demerger and transfer of general insurance business, as envisaged in the Scheme, shall be effective within 3 days from the date of the final approval.
The IRDAI has also granted approval to ICICI Bank to bring down its stake in ICICI Lombard General Insurance Company to 30%, subject to compliance with the provision of the Insurance Act, 1938 and applicable IRDAI regulations.
