Indiabulls gets Delhi HC nod for biz rejig

Financial services company Indiabulls has received the Delhi High Court's sanction for the scheme of arrangement among Indiabulls Credit Services (ICSL), Indiabulls Financial Services, and Indiabulls Securities (ISL) for the merger of ICSL with itself and the demerger of its securities broking and advisory business undertaking and the subsequent transfer and vesting, as a going concern, with ISL.

According to an official release issued by the company to the BSE today,  the board of directors had earlier, in February had given a nod to the scheme of arrangements.