{"id":82512,"date":"2023-01-10T17:54:00","date_gmt":"2023-01-10T12:24:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=82512"},"modified":"2023-01-10T17:51:45","modified_gmt":"2023-01-10T12:21:45","slug":"biz-axis-bank-max-life","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-axis-bank-max-life\/","title":{"rendered":"Axis Bank enters into revised pact with Max Fin Serv for acquiring additional 7% stake in Max Life"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3624825498\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-541870642\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The revision in agreement follows the guidance issued by the Insurance Regulatory and Development Authority (IRDAI) in October last year.<\/p><p>Axis Bank and its subsidiaries &#8212; Axis Securities and Axis Capital &#8212; had in 2021 entered into definitive agreements with Max Financial Services Ltd for acquiring 20 per cent stake in its subsidiary Max Life Insurance Co Ltd. Following this, Axis Entities had collectively acquired 12.99 per cent of the equity share capital of Max Life.<\/p><p>In a regulatory filing on Tuesday, Axis Bank said Axis Entities have entered into revised agreements with Max Financial on January 9, 2023.<\/p><div class=\"trade-content_5\" id=\"trade-4254492666\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>As per the revised agreement, &#8220;&#8230;the valuation for the right to acquire the balance 7 per cent equity stake of Max Life would be at fair market value using discounted cash flows instead of valuation as per Rule 11UA of the Income Tax Rules, 1962.&#8221; The revision, the stock exchange filing said, has been done consequent to the guidance received by Max Life from insurance regulator IRDAI.<\/p><p>Discounted cash flow refers to the estimated value of an investment based on future cash flows.<\/p><p>It may be mentioned that the IRDAI had in October, last year, slapped Rs 3 crore and Rs 2 crore fines on Max Life Insurance and Axis Bank respectively for violation of various provisions relating to the deal.<\/p><p>The penalty on Max Life Insurance was for violation of IRDAI&#8217;s direction, misrepresentation to obtain approval, and contravention of share transfer directions. Axis Bank was fined for making undue gains in the deal and violation of norms.<\/p><p>Shares of Axis Bank closed at Rs 951.90, down 0.73 per cent on the BSE. Max Financial Services shares went up 4.11 per cent at Rs 770.45 on the BSE. PTI JD CS HVA<\/p><div class=\"trade-after-content\" id=\"trade-3632246719\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method. The revision in agreement follows the guidance issued by the Insurance Regulatory and Development Authority (IRDAI) in October [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-82512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Axis Bank enters into revised pact with Max Fin Serv for acquiring additional 7% stake in Max Life - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-axis-bank-max-life\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axis Bank enters into revised pact with Max Fin Serv for acquiring additional 7% stake in Max Life\" \/>\n<meta property=\"og:description\" content=\"Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-axis-bank-max-life\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T12:24:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Axis-bank-1-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Axis-bank-1-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-axis-bank-max-life\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-axis-bank-max-life\/\",\"name\":\"Axis Bank enters into revised pact with Max Fin Serv for acquiring additional 7% stake in Max Life - 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