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With reference to the earlier announcement dated March 07, 2008 regarding Infrastructure Development Finance Company Ltd (IDFC) and Standard Chartered Bank (SCB) had entered into an agreement whereby IDFC had agreed, subject to regulatory approvals, to acquire the mutual fund business of SCB in India.

In this regard, Infrastructure Development Finance Company Ltd (IDFC) has informed BSE that, IDFC has received all necessary approvals from the concerned regulatory authorities. Accordingly, IDFC has, effective May 30, 2008, acquired the mutual fund business of SCB.

Tags: IDFC

This entry was posted on Saturday, May 31st, 2008 at 11:21 am and is filed under Commodities. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.