At meeting held on 30 August 2018
The Board of LKP Finance at its meeting held on 30 August 2018 has taken on record a letter dated 23 August 2018 issued by Reserve Bank of India granting its approval in response to Company's application dated 14 May 2018 for the proposed change in control/ownership of the Company.The Chairman further updated the Board about the key initiatives of the Essel group post completion of the acquisition and open offer which are as below:
To explore the possibility of name change of the Company.
Alignment of the Company with Essel Finance Group Companies by
Merger/amalgamation/Buyout.
To explore the possibility of funds infusion in Essel Finance Group Companies.
To explore the possibility of change of Registered Office of the Company.
Essel Group is contemplating to make the Company the holding company for all its other financial ventures and convert the same to CIC (Core Investment Company) post-acquisition and open offer.
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