Amalgamation scheme updated as per IRDAI advisory on Insurance Act
GODIGIT · price
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Go Digit General Insurance updated its draft amalgamation scheme with holding company Go Digit Infoworks Services Private Limited. Changes only add reference to Section 35 of the Insurance Act 1938 as advised by IRDAI, no material change. Transferor holds about 73.05 percent of insurer and has stopped operations. Merger will simplify structure by removing the holding layer. Share exchange ratios are fixed. Still awaits NCLT, IRDAI, and shareholder approvals.
No new shares for current Go Digit shareholders; structure simplification may improve governance clarity. Key approvals still pending.