The company has sold its 100 per cent shareholding in 'Indiabulls Life Insurance Company Limited', presently a non- operational company with no business or license, to SORIL Holdings and Ventures Limited ('SHVL'), at face value for an aggregate cash consideration of Rs 5 lac, Indiabulls Housing Finance Ltd said in a BSE filing.
This transaction between the company and the SHVL, being related parties, is at arms' length, it added.