The shareholders of Max India have already given their consent on 4 July 2015, with over 99.9% voting in favor of the demerger, which will unlock value and provide undiluted access to the company's businesses.

In addition, the Insurance Regulatory and Development Authority of India (IRDAI), the Securities and Exchange Board of India (SEBI) and the Competition Commission of India (CCI) have already approved the demerger of Max India, into three separate listed entities. The court is expected to issue the detailed certified order shortly.